Tuesday, October 4, 2011
It’s Official, We Are In A Bear Market For the S&P 500
As you know from watching our videos, we are projecting lower levels for the S&P 500, as well as the banks and financial institutions. Those moves on not over yet.
In today’s presentation, we will be talking about three markets that are in the news. This will be a regular feature and we will try to bring you information that is timely, informative and educational. We will be talking about stocks, the Forex markets, and the futures markets.
The downward trend in the crude oil market continues with crude oil hitting a low today just below $75 a barrel. Our Trade Triangle technology has been all over this market and is presently short from $96.04 a barrel.
The beauty of following our Trade Triangle technology is that it’s totally non biased and it follows what the markets are doing, instead of what politicians, the news, or pundits are saying about a particular market. Intermediate and Long term traders should continue to be short the crude oil market.
November crude oil closed down $2.19 a barrel at $75.42 today. Prices closed nearer the session low today and hit a fresh 16 month low. A lower U.S. stock market and firmer U.S. dollar index pressured crude oil again today. The crude oil bears are in firm near term technical control.
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