Technical Analysis for the S&P 500, Nasdaq, and Oil on 2/6/2019

Today in this video I am doing a mid-week technical analysis look at the S&P 500, Nasdaq, and Oil. For the S&P 500, I think there is a pullback coming. With Nasdaq, it looks like it has a little more room to run higher. With Oil, I think a retracement will happen but then a big run up to around $68 will take place.

Recap of the Technical Analysis Video

For the Nasdaq, it looks like there is room to run up a little bit more. After that, we will have to wait and see.

With the S&P 500, I would like to see a little bit of a move run up. But the way it is right now there could be a pullback. If the market totally tanks then there could be a pretty big move down. Hopefully, it doesn’t come to that before the retracement happens. A run up a little bit more would be best before the retracement.

For Oil there looks to be a slight move up and then a retracement. After that, I am extremely bullish and am looking for price to eventually make its way up to around $69.  I expect a little bit of a move up first and then a retracement. That will set it up the move up if it plays out that way. If the move up doesn’t happen first then a retracement back into the low $40s would be the target before the move up.

If you have any stocks, Forex, futures, or cryptos you would like for me to review I will be glad to do so. Just let me know.

If this post benefits you and if you haven’t used Robinhood for trading stocks but are thinking to then please consider using my referral link when you do sign up: http://share.robinhood.com/evanc203. 

This way each of us will receive a free share of a random stock if you sign up through my referral link.

My Robinhood Review:  https://evancarthey.com/review-robinhood-trading-service-with-no-fees-part-1/