• 757 days Will The ECB Continue To Hike Rates?
  • 757 days Forbes: Aramco Remains Largest Company In The Middle East
  • 759 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,159 days Could Crypto Overtake Traditional Investment?
  • 1,163 days Americans Still Quitting Jobs At Record Pace
  • 1,165 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,168 days Is The Dollar Too Strong?
  • 1,169 days Big Tech Disappoints Investors on Earnings Calls
  • 1,170 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,171 days China Is Quietly Trying To Distance Itself From Russia
  • 1,172 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,175 days Crypto Investors Won Big In 2021
  • 1,176 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,177 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,179 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,179 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,182 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,183 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,183 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,185 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Is Gold About To Rocket and SP500 Tank Video

Last week we saw stocks move sharply higher as traders started to cover their short position which added fuel to an already oversold market ready to bounce. Overall volume was not that strong on the move up which is a bearish sign. On Friday afternoon we saw the SP500 continue to move into the $1075 resistance level on very light volume. This indicates to me that buyers are not willing to pay these higher prices because the market has moved up so quickly and the fact that it's trading at a resistance level.

I feel the market will gap higher on Monday just like we say on June 20/21 deep into a resistance level and the big money will short the pop sending it sharply lower.

Gold looks to be shifting its momentum from a down trend to an uptrend. It's forming a reverse head & shoulders pattern which is shown in the video posted below.


Here is My Technical Trading Report Video Covering:

- Gold, US Dollar, SP500, Market Internals, On Balance Volume

Watch Video: http://www.futurestradingsignals.com/trading-education/is-gold-about-to-rocket-and-sp500-tank-video/


Weekend Conclusion:

In short is looks as thought the market is at a critical pivot point. We could see prices stall out here and continue the down trend or see strong buying step in sending prices higher in the equities market. We need to wait and see what type of price action unfolds in the coming days.

If you would like to receive my trading alerts and education checkout my service at www.FuturesTradingSignals.com or my swing trading service at www.TheGoldAndOilGuy.com

 

Back to homepage

Leave a comment

Leave a comment