DOW down 344pts! Most of the indices received a 3% haircut today. Damage has been made. Supports have been broken. I think this could be the beginning of the big drop. Always keep in mind that things that DROP FAST, BOUNCE FAST.
My favorite strategy for yestersday's market leading into today.
A technical analysis review of AAPL. The weekly chart pattern especially looks grim. We're in a bear market too. Check us out at www.FreeTradingVideos****
The markets bounced Friday giving us hammer formations across the board promising a market wide flurry of "bear pullbacks". Be ready to add short/bear plays if we get a shallow retracement. See you at www.FreeTradingVideos****
www.FreeTradingVideos****: The markets were up sharply. Traders were bullish due to the Treasury Department's plan to take control of the battered mortgage companies. But tech stocks namely AAPL and GOOG continue to sell off.
Taking a look at the technicals analysis on the Transports and the Russel 2000 indexes. What a market environment today. It will be interesting to see who wins. The market or the Fed. My vote the market.
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www.FreeTradingVideos**** :: Banks continue to take nose dives and the blood keeps running in the streets.
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It will be years before we see a market like this one again, once it is all over. Taking you through a couple of charts to show you a couple of extreme Reading the market has produced. The futures are up huge tonight as well.
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Walking you through a set up on an inverse head and shoulders with a MACD Divergence.