Market Update for the the Week of October 14,2013
Posted: Mon Oct 14, 2013 8:39 pm
This week I discuss the rising wedge pattern we see forming, this would be a good place to have a plan of action if and when this market decides to take a rest more then a week. I am not saying we are getting this next week but I do see a good scenario playing out that we take out recent highs and then break down from the top range of the pattern.
[left]http://daytradingradio.com/include/data/files/2013/10/11/tn/500/$spx-daily101413.png[/left]
Image larger view
The next video to be released this week is a outline and the different ETF you can use to profit in a correction. Look for this mid week.
News still is a factor, but the charts are very clear except for a 2 day flush last week that was caused by the news. It looks like we should get some more follow through early next week.
This Week's watch list is good, but We had a great 2-3 day move in a lot of positions I have a great short set up also.
Prediction and outlook for next pull back in market. The rising Wedge which should break down.
http://www.youtube.com/watch?v=a1lDPoKwlu8
[left]http://daytradingradio.com/include/data/files/2013/10/11/tn/500/$spx-daily101413.png[/left]
Image larger view
The next video to be released this week is a outline and the different ETF you can use to profit in a correction. Look for this mid week.
News still is a factor, but the charts are very clear except for a 2 day flush last week that was caused by the news. It looks like we should get some more follow through early next week.
This Week's watch list is good, but We had a great 2-3 day move in a lot of positions I have a great short set up also.
Prediction and outlook for next pull back in market. The rising Wedge which should break down.
http://www.youtube.com/watch?v=a1lDPoKwlu8