Happy 4th of July

Hope everyone has a Happy 4th of July this weekend. My only request for the holidays is in regards to the Barbecue. If you see someone attemping to BBQ meat, and they smash the meat with the Spatula, please relieve them of their duties. Nothing ruins a summer event like a BBQ MEAT SMASHER!! zomg=fail@life



Today pretty much eliminated most Bullish opportunities for the rest of the year. The trend is almost certainly down at this point. Over the course of the next week, I expect a 5-wave pattern to become evident and should wash up around the S&P 1000 mark. I wont be able to post any charts until next Wednesday.



Another HUGE signal is moving averages. A significant amount of traders use moving averages to decide if we are in a Bear or a Bull market. Most denote a Bull market when the 50 day moving average crosses over the 200 day moving average. The cross is called the "Golden Cross." Likewise, if the 50 day moving average crosses under the 200 day moving average, the market is considered a Bear. The "Death Cross." Its just math.


Then we got the "Old School" technical analysis with a Head and Shoulders pattern. Top of the head to the neckline gives the target. In this case we are looking at sub 900 soon.