Hewison Gives Timely SP500 Update in New Video

Jul 1, 2009: 12:22 PM CST

Adam Hewison released on of his most descriptive video updates on the S&P 500 this morning and I wanted to share it with you to keep you in the loop as usual.

In this video – which I honestly deem to be among his best – Adam describes a two-month cycle that is peaking (I’m weak in cycle analysis), a Head and Shoulders reversal pattern possibly forming (including a price target), key Fibonacci support (target) areas beneath price to watch, the importance of the 880 level, the standard MACD Divergence, Trade Triangles, and other chart aspects – all in a free seven-minute video entitled simply “S&P 500 Update July 1st.

Adam and I share the roughly the same analysis, only he presents it in a popular video format.

Here’s how Adam describes the video:

“Today I’m going to take another look at the S&P 500 Index. It appears that some of the rose coloring on traders’ glasses is beginning to wear thin. Many more traders now perceive this as a two way trading market as opposed to a one way street we witnessed in March and April.

I am going to be analyzing a daily S&P index chart and making some observations that I think potentially could work out if certain elements fall into place.

At the present time our “Trade Triangle” technology is indicating a neutral stance in this market. With the -55 reading our “Trade Triangles” are indicating a trading range which could possibly be an early sign of a reversal.”

As always, Market Club members receive these videos as they are released (without the delay of affiliates) as well as access to education, scans, and of course their “Trade Triangle” signals (which are a combination of technical indicators that mirror a trend following strategy).

My appreciation to Adam and staff for producing these timely updates and allowing me to share them freely with you.

Corey Rosenbloom, CMT

4 Comments

4 Responses to “Hewison Gives Timely SP500 Update in New Video”

  1. Micheal Says:

    I see Adam has turned off the S&P 500 scenario for now, lol. It's a good analysis, my only problem is the more widely watched something is the more nervous I am about moving into it, and this H&S is all over the blogosphere, CNBC, etc. When the proverbial “everyone” is watching something the more nervous I become about it LOL!

    Not that “everyone” can't be right, but it seems that in my case these types of situations are usually likely to result in false breaks. Or shenanigans if you're a conspiracy theorist. 😉

    The most recent example was the UNG trade that has been discussed here. I thought it looked great until I noticed that it had almost immediately become a top 5 most popular post here. Call me crazy but as soon as I saw that I got a little nervous! It did break out as expected but has since turned south and really, I'm not that surprised to see it breaking down to retest its lows and giving a weekly triangle sell. I took myself out of it for a small loss the other day as I didn't like the way it looked – it may yet blast higher but I have to respect my stops.

    Not trying to scare anyone out of playing this S&P pattern, just for me I think I'm better off sitting it out. I don't know if it's me, or the way the market has been the past year, but I can't make a dime swing trading. I had given up on it but took the chance on UNG because it looked good and what can I say but lesson learned! I'm sticking with day trading! 😉

  2. Head and Shoulders and Divergences on Daily SP500 | Afraid to Trade.com Blog Says:

    […] a caveat, there’s no guarantee price has to break these levels, and one astute reader (Michael) even noted in the comments of the prior post, because the Head and Shoulders pattern is so obvious, it might be ‘faded’ or fail to […]

  3. Micheal Says:

    I see Adam has turned off the S&P 500 scenario for now, lol. It's a good analysis, my only problem is the more widely watched something is the more nervous I am about moving into it, and this H&S is all over the blogosphere, CNBC, etc. When the proverbial “everyone” is watching something the more nervous I become about it LOL!

    Not that “everyone” can't be right, but it seems that in my case these types of situations are usually likely to result in false breaks. Or shenanigans if you're a conspiracy theorist. 😉

    The most recent example was the UNG trade that has been discussed here. I thought it looked great until I noticed that it had almost immediately become a top 5 most popular post here. Call me crazy but as soon as I saw that I got a little nervous! It did break out as expected but has since turned south and really, I'm not that surprised to see it breaking down to retest its lows and giving a weekly triangle sell. I took myself out of it for a small loss the other day as I didn't like the way it looked – it may yet blast higher but I have to respect my stops.

    Not trying to scare anyone out of playing this S&P pattern, just for me I think I'm better off sitting it out. I don't know if it's me, or the way the market has been the past year, but I can't make a dime swing trading. I had given up on it but took the chance on UNG because it looked good and what can I say but lesson learned! I'm sticking with day trading! 😉

  4. Head and Shoulders and Divergences on Daily SP500 | Penny Stock Trading System Blog Says:

    […] a caveat, there’s no guarantee price has to break these levels, and one astute reader (Michael) even noted in the comments of the prior post, because the Head and Shoulders pattern is so obvious, it might be ‘faded’ or fail to […]