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Friday, July 3, 2009

S&P 500 Update July 1st

I'm sorry this video came up late. I mentioned earlier that I don't put up videos using (only) blackbox methodologies, and I still don't. :)

In this video by INO MarketClub, S&P 500 Update July 1st, he does use his trade triangles technology. But watch for how he describes the trend, draws the trendlines, pulls of fibs, and describes how he would possibly address the trade as prices moves.

The video was dated 1 July.... but its still not too late because he's looking at a break of the trendline around 880 before expecting prices to go lower. (so you could possibly go short even without his trade triangle technology).

Now... for me, I used Elliott Waves, and that's how I got my entry at 930 (61.8% retracement on previous 5 waves decline). Hope you enjoy the video and have something to take away from it.