For some time now there has been some concerns about the lack of upside momentum and the divergences that have been building in many key oscillators. There were concerns that the market has reached a very important Fibonacci level which was pointed out in a recent video.
It never ceases to amaze me how these levels have worked both in the past and in the present. If you’re serious about the markets, you must pay attention to these key levels as many professional traders do, and perhaps you will understand why. The action today, Tuesday, can only be viewed one way, and that is negative. We do not expect this market to make a miraculous recovery to new highs and would not be surprised if we have seen the highs for the year.
http://www.mywealthmastery.com/the-dow-went-south.html
In today’s short video on the Dow, Adam Hewison looks at potential downside targets that this market may be headed for. One of the key things to remember in trading, and this applies to all markets, is perception. This is why technical analysis plays such an important part in detecting shifts in market perceptions. MarketClub’s “Trade Triangles” have done extraordinarily well in this environment.
As always you can watch the videos without registration and there are no fees involved.
http://www.mywealthmastery.com/the-dow-went-south.html
Enjoy the video and take a moment to comment on our blog.
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