The S&P 500 Index Review for July
July 2nd 2009
The S&P index for July is showing signs of weakening. During March and April and again in May in June we saw a broad trading range.
Currently our monthly Trade Triangles are showing an upward trend but our weekly Trade Triangles are pointing down. This indicates a neutral market and traders should be on the sidelines at this time.
When we apply the Fibonacci tool it is pointing to a short position at around the 810 mark while the 880 mark is the key level to watch. We will be putting our stops at 783.32.
Additionally the MACD is pointing down so watch this market right now and be ready to act at the 810 mark.
Take a look at this video for a clearer picture of the S&P July update.
I hope you find the video informative, educational and profitable.
My regular readers will know that the video is free to watch and there is no need to register.
Let’s hear from you on our blog!
All the best,
Go to it,
Good Trading,
Tom Nadir
Take a look more free educational trading videos here.
The contents of this report are compiled by Tom Nadir for information purposes only.
Posted in The Market Club Tagged: Currencies Direct, Currencies Direct and MarketClub Updates, currency market updates, marketclub updates, S&P 500 Index Review, tom nadir 
