Trading futures SP500 weakness – the start of a major correction?
Trading futures on this past weeks news normally wouldn’t have any one selling this type of widely held market. The unemployment data was good, everything seemed to be in line, yet there was weakness going in to the latter part of the week with lower and lower buyer volume.
S&P500 emini futures is at a major support before a continuation to 1900 and a further sell off target of 1865. If the buyers do step in for a partial retracement we are looking for levels at 1935-37 for resistance. If there is some seller’s pressure from the Asian markets and a weak open in Europe we could see the markets hit resistance at 1931 and head lower.
Trading futures is very risky.
Make sure you have practiced and know what you are doing. There are many settings in the market place which you can see the tendencies of the market. Watch for a quick reversal in the AM. Although there was large selling volume, we don’t know if this was capitulatory and we could see heavier selling. There is a good chance sellers will test the previous swing lows.
We have marked a few of the areas for support and resistance and looking for basic patterns to swing through these. The previous major sell off gave us a 120 point swing. Price action consolidated for a few days then made the second move down before continuing the long term bullish trend.
Don’t forget, we are in a Bull trend, for the long run and we have yet to invalidate the trend or give a clear topping pattern. Trading futures with a group that speaks the same trading language and has the same trading psychology training creates a very collaborative environment. Join us in Calgary or Montreal this fall.
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Stock Market Cycle
This is an very simple example of trading cycle. This cycle can happen, on long term, mid term, short term.
Depending on what chart are you looking we could see different cycle.
So…in witch cycle are we at right now? or going to be soon?
When is the Big time to Sell to make Lot’s of millions?! (this answer will be at the end of this blog)
Stock Market Cycle Mid term
1. It’s a bull market on mid term. This pattern is very hard to break, but once it happen, is usually a sell off.
2. Is normal for market, to go down. Nothing move Up forever. The good part, if you know how to trade, you can make great money from those Down move.
3. It is time to sell now? You going against the market… learn and you will know how to sell in tops!
4. We can see also, when is good time to buy. Is not because market start to selling, that you can’t start to buy.
5. It will happen this time? when you should buy it again? ..good question
but this answer cost money…unless your not ready to pay for…can’t tell you
Stock Market Cycle Daily SP500 Chart
This chart look like the one above. But, the difference, is that, it did not make to new highs. This indicate a potential change of direction.
If sellers break this short term Up trend market, market should go back to last lows at 1900.00
So…When is the Big time to Sell to make Lot’s of millions?! …sorry but if it’s your way to think, your should try Casino. Trading is a business, when done properly (and this is not hard) , you can make a constance results, and money. And money will growth with the equivalence of your Money conscience maturity.