Today I’m going to update you on the S&P 500 Index. More and more traders are beginning to worry about the S&P 500 pulling back and catching them long in their positions. The market action has changed from the “jump on the train” bullish uptrend type attitude of March and April.
In the video below, I will be analyzing the daily S&P 500 Index chart and making some predictions that I think will happen if certain technical indicators fall into place.
At the present time our “Trade Triangle” technology is indicating a sidelines stance in this market. With the -55 reading our “Trade Triangles” are indicating a trading range which could possibly be an early sign of a reversal.
At the very least, we have dropped into a wicked back and forth trading range. In such trading ranges, small and quick guerilla stock traders would be wise to sit on the sidelines and let the bulls and the bears battle it out. As soon as one group begins dominating the other, place your money on that winning group. Professional and institutional traders, generally speaking, have more money than we do and as a result can literally move markets. Unless you can compete with them by having enough money to move markets, stay on the sidelines. This is not your fight.
I hope this video helps you make a lot of money. Leave any comments you might have below. Thank you and happy improved trading.
Lance Jepsen
President, GuerillaStockTrading.com
Your Trading Coach
(because everyone, even Tiger Woods, needs a coach)
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