Top Stock Traders

S&P500 Charts, 1950's, 60's, 1973-74 Bear Market, 1987 crash, 1990's, Double top 1999-2008

Thursday, July 1, 2010 , 10:30 AM EDT,

The S&P500 1012, is breaking down. Prior support at 1040,1042 has been broken. We expect some volatility, but the overall market looks to be headed lower. Possible targets for the S&P500 are 956-870. The market has topped with a head and shoulders pattern. As for timing, we could see this downtrend continue for 2 or more months.

some inverse ETF's worth watching ( breaking out ) :

SDS $38.81, FAZ $18.71 , SKF $24.56, TZA $8.82, VXX $32.70 ( nearing a close above the 200 day moving average) , QID $20.55 a 2-3 day close above the 200 day moving average is a bullish.

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Stock Phases define the 4 market cycles. Updated October 10,2009


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