S&P 500 My Technical Analysis for the Week of 3/31/2019
Here is the S&P 500 Technical Analysis Review for the week of 3/31/2019. What I am looking for is the market to move higher at the beginning of the week and then a little pullback to complete the current long setups as well as the short setups. After that, we will see if the bull move continues. Last week the market completed several of the setups like it always does. It also is involved in a couple more that I will talk about this week.
The overall theme seems to be that price is setting itself up for another move higher. I show in the video using my technical analysis two other times in this current move higher how price has done the same setup before catapulting upwards. The move downward we had near the end of last year seems to be a fakeout before the move higher. There are a lot of people expecting the market to crash so I don’t think it will, just yet.
Eventually, the market will have a major correction like it always does. But it always does when the least amount of people are expecting it. Since so many people continually talk about it I don’t think it will happen anytime soon. Of course, I could be dead wrong but that is how I view the market. If everyone is talking about the market moving one direction and never considering the opposite could happen then that is what usually happens. That is also one of my key trading cornerstones.
Always do the opposite of what everyone else is doing. That is how I built my trading plan, going against the “advice” you hear all of the trading gurus spouting off.
Never catch a falling knife, cut your losers short, let your winners run, always use a stop loss, never hold a trade overnight….etc. etc. etc.
Video: S&P 500 My Technical Analysis
Popular Links
Here are a couple of links if you are looking at how I view the market and some trade setups. You can create your own trading style and setups. Quit paying losing traders to teach you. The only thing they teach is how to lose money.
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