Video Review and Analysis for 8/29/07
Source:Posted on Wednesday, August 29th, 2007 | In Current Market News
Contributed by: Brian Shannon (http://alphatrends.blogspot.com) -
Today’s action gives me further confidence in the advice I have been giving for the last 5 weeks. That advice is that it is a TRADERS MARKET with a downside bias. This morning I outlined the potential for an inverted head and shoulder pattern being developed in the SPY and Qs. This pattern will take more time and the markets will have to make a higher high above the 8/24 highs before we can have confidence in the long side, until we get such confirmation, be open minded to bullish and bearish scenarios with the best trades setting up on the intraday timeframes.
Last 5 posts by Brian Shannon
- Where's The Risk Management? - September 5th, 2008
- Goals - September 5th, 2008
- Stock Market Video Analysis 9/4/08 - September 4th, 2008
- SPY Bounce? - September 4th, 2008
- Approaching Potential Q Support - September 4th, 2008
 About Brian Shannon (http://alphatrends.blogspot.com)
Brian Shannon is a full time trader who shares his market experiences on the highly popular alphatrends.blogspot.com site. Alpha trends has been called "the youtube of technical analysis" by Technical Analysis of Stocks & Commodities Magazine (March 2007) and has been praised in Barron's (October 23, 2006) and Active Trader Magazine (July 2007). Brian trades an account at www.worldcupadvisor.com since March 2006 and in that time has more than tripled the results of the S&P 500. He can be reached at alphatrends@gmail.com |
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