Here’s Market Club’s updated analysis of the S&P 500. Courtesy of Adam Hewison, MarketClub’s co-creator.
S&P 500 Update, July 1st
Adam writes:
Today I’m going to take another look at the S&P 500 Index. It appears that some of the rose coloring on traders’ glasses is beginning to wear thin. Many more traders now perceive this as a two way trading market as opposed to a one way street we witnessed in March and April.
I am going to be analyzing a daily S&P index chart and making some observations that I think potentially could work out if certain elements fall into place. At the present time our “Trade Triangle” technology is indicating a neutral stance in this market.
The monthly chart is still on a buy signal while the weekly signal is on a sell, leaving Adam fairly neutral. Click here to watch the video.
