SP500 in 60 minutes chart

For me is very important the 1358 Level. In case the price moves above that price my Bear scenario will be cancelled.

Now i think that the price will go to the 61.8% retractment of the move from the 04/06, around 1292.

I think in the next days/weeks we will see prices below 1266, at least towards the 1250.

If the SP500 goes below 1260 and it doesn´t go above today max. before, it´s quite probably the price could reach the 1200 level.


Of course this "road map"  will be cancelled with prices above 1358.

Interesting videos.......
MILLION DOLLAR TRADERS

I hope you enjoy them, as much as i did.

COPPER .... beginning of a Bear Market

Can Copper, mark the beginning of another Big BEAR MARKET??

Nothing more to add, just see the chart, and ...... the market will tell us the thruth behind the numbers.

We have to study the past to learn about the future, although not always the past is repeated in the same way.

Work done by Kimble Charting Solutions.

http://blog.kimblechartingsolutions.com/2012/06/doc-copper-is-breaking-down-like-it-did-in-2008-is-the-messageimpact-going-to-be-the-same/

DOW JONES

Well........... lets post my opinion about the Dow Jones

We can see how finally the price drop when it broke the rising wedge, that was channeling the prices until March'12

The price try to make another up move, but after what we see is a double top witch a trend revearsal pattern very important to follow when it takes places.

The DJ move around 1030 points from April highs (13330-12300), after try to have some kind of rebound with very little force.

When this happend the next downtrend move will also be fast. This is the second move, that will take the price in my opinion to 11.670-11.500 (very close to the 61.8 rectracment of all the up trend since september last year).

Maybe the market will decide to take some stop around the 12000 and 11850 (50% fibo retractment). At 11850, it will be a good idea to close part of our "shorts", although i think the price could make other lows its important to close positions when the price move in our favour.

In my opinion this level of 11.500 we should close all the "shorts". Depends in how we achive that level we could think in a good rebound.

In the market you should never go only with one "road map", but several road maps and very dynamic as fast as the market moves.


"Take care of your losses and the market will take care of your profits"