Markets closed up yet again but are still running into some staunch overhead resistance. The next few days should be telling as to whether or not the bulls are for real or if the bears are just letting them gain a little confidence before beating them back down again.
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Market Update 062911 (by Brian Johnson)
It's Brian Johnson with a quick market update on where we currently stand in the markets with that break up and over 1300 in the SPX.
Market Video for 062811
It's Brian Johnson again and here's a video on the current state of the markets and what to look for as we move forward. We need to be watching the bear flags that are forming here but they're not confirmed until we break out of them to the downside. If we break up and out of them it could signal some kind of larger move upwards but that still needs to be shown over the next few days. There are some good entries still available for the bulls out there but it's important to wait for the levels to be broken before you enter.
Completing A Wave?
It's Brian Johnson again and here's a video on the current state of the markets and what to look for as we move forward. Both the DOW and the SPX appear to be in bull pullbacks but they're not confirmed until we break out of them to the upside. Lots of overhead resistance at the 10600 (DOW) and 1113-1125 (SPX) areas but coming into a new month of trading should give us some great opportunities for those who are patient.
We’re All Equal
It's Brian Johnson and here's a video showing a few more things to watch for as we move into a new month of trading. Price action doesn't show much interest quite yet from the bulls so it's fair to stay neutral to bearish as we enter the week. Watch for breaks mentioned in the video and be careful if you're trying to swing trade the Indices in through here. Give the markets time to find a real direction.
