Adam Hewison released on of his most descriptive video updates on the S&P 500 this morning and I wanted to share it with you to keep you in the loop as usual.
In this video - which I honestly deem to be among his best - Adam describes a two-month cycle that is peaking (I’m weak in cycle analysis), a Head and Shoulders reversal pattern possibly forming (including a price target), key Fibonacci support (target) areas beneath price to watch, the importance of the 880 level, the standard MACD Divergence, Trade Triangles, and other chart aspects - all in a free seven-minute video entitled simply “S&P 500 Update July 1st.”
Adam and I share the roughly the same analysis, only he presents it in a popular video format.
Here’s how Adam describes the video:
“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. With the -55 reading our “Trade Triangles” are indicating a trading range which could possibly be an early sign of a reversal.”
As always, Market Club members receive these videos as they are released (without the delay of affiliates) as well as access to education, scans, and of course their “Trade Triangle” signals (which are a combination of technical indicators that mirror a trend following strategy).
My appreciation to Adam and staff for producing these timely updates and allowing me to share them freely with you.
Corey Rosenbloom, CMT
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