On Friday, I wrote that the S&P 500 is looking like the top is in, and that things could get rough for the bulls. I thought it would be good to look at some of the sector Spyder’s to see if any of them look more top heavy than others:
Energy: XLE
MarketClub Smart Scan Chart Analysis [...]
S&P 500 Trend:
Smart Scan Chart Analysis continues negative longer term. Look for this market to remain weak. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
Based on a pre-defined weighted trend [...]
Last Thursday, October 9th 2008, I predicted the market would be hitting rock bottom by May, 2009.
With that in mind, investors who had their money on the sideline, or who have taken advantage of bearish market levers such as puts and shorts have a massive advantage in their ability to buy into positions very cheaply. [...]
Article Overview
In part 1 of this 7 part series I defined 6 critical elements of any successful trading strategy. In case you didn’t read the first article, these key elements are:
A daily routine for analyzing the overall market trend
Details for creating, testing, implementing, and refining screens / other methods of identifying possible trades
Guidelines for opening [...]
