I've been under the weather for the past couple of days, so I decided to pick up a few new trading books to see if I could come up with anything interesting. While searching, I ran into an article by one of my favorite traders, Chuck LeBeau. In this whitepaper, Chuck takes a deeper look [...]
Action in the S&P 500 has been very volatile since late June. After hitting highs in May, the 50 day moving average became resistance, and the market retraced. After a bounce, the 50 day become resistance again, and the market pulled way back.
Bailout Fails in The House, S&P Hammered I hate having to write forecasts like this, because the last thing anybody needs is more gloom. However, market levels are reaching critical areas of support with massive momentum in the downward direction.
