This is John Howell of tradingandinvesting4u.com and today’s video, we are getting a mark update and we could see where we going. We are probably moving forward on the short term. In the S&P 500, looking on it`s daily chart and on shorter time frame, we can see that we had all from 1 to 8 days of continued sideways.
The interesting thing is that you can see that it ran up from around about the mid of January, ran up to make a higher peak of around 1, 326 mark. It came down on that high at 1326 and that high was what we call the resistance line. We can see that it had the resistance line and what happened is it broke up. As soon as 
it broke up it had this big bluish there.
On Friday, the 3rd of the 2nd, 2012 it has a massive bluish update and then sideways after that ever since today. Today’s date is the 15th of the 2nd, 2012 and you can see it just have all of the sideways movement there. So, what I do say is that all the sideways movement and on top of that, if we have looked a little bit closer on the daily chart, we could see that it close that 1343. You can see this overall sideways movement but the thing about today’s bar on the 15th of the 2nd, 2012 we can see that it actually open, it ran higher for the 1st morning part then later on the afternoon ran down and then close that 1343.
So that’s actually quite a bearish bar, you can see that it have some bars in the pasts that have been so bearish but this is actually quite a bearish bar there. That’s one thing I have been looking at. I would think that we would like to say a bit of downward movement coming into it.
I’m looking at the chart, that resistance back there around about which is the high, the 1326. We could at least get a bit pullback down towards that level because that’s the likely to be support. Now look at the weekly chart, if we flick our chart to the weekly chart we could see something interesting. We could see that the market has overall last week, we have sideways movement, this week were having the sideways movement but you can see that every time you try to go up, it get’s rejected and comes back down. So that’s actually a very weak sign and I believe that we could get on a weekly chart as our basis. Looks like we are ready for a pullback here even a deeper pull back towards the 1300s.
That’s what happens in there. Moving to the Dow Jones Industrial average chart, what happens is it’s actually heading us head 1 to 3 times on this Dow Jones weekly chart. It’s actually heading it and we’re actually pulls on it right now.
So I believe we could start to see a bit more downside on the Dow Jones which is likely to see a lot more downside on the S&P. Dow Jones look like they’re gonna start coming down, they have been going up quite some time, they’re struggling at this resistance levels and I do say that I would expect to see a bit more downside to come out of this. Keep it all on that and make sure that you come down and check us out at tradingandinvesting4u.com and I’ll see you soon.
Free video Reveals The Excat Steps To The Amazing Power Turn Strategey
Fill in your email below now to get started
Trading and Investing 4U, in preparing this post, did not take into account the investment objectives, financial situation and particular needs of the investor. Before making any decision about the information provided, you must consider the appropriateness of the information having regard to your objectives, financial situation, and needs, and always consult your advisor. Securities and Derivatives have inherent risks and any comments appearing here are general advice only and can involve high risk investment. Trading and Investing 4U has made every effort to ensure the information is accurate, however its accuracy, reliability or completeness is not guaranteed.
Any advice in this post is General Advice only
Facebook Comments: