Stock Market Technical Analysis for Ending Day 05/27/09

Stock Market Technical Analysis Video for Ending Day 05/27/09




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Hi everybody, today was a great day in the markets for the bears. We have been expecting this move to the downside because reversal candlesticks have been showing up at resistance levels on the indexes. We finally got more conviction that a correction may still be in place. We had the markets basically chop around until 12 pm until the sellers came in and started hitting the bid. Now I thought today was going to be a choppy seueeyy day, however it was a trendable day after 12 pm. Now if you have been watching my videos and subscribing to my videos you should have been well prepared for today's action and made some future profits from the channels. As most of you know that have been following the videos, we have had these channels on the indexes and some stock positions play out to the tee. We here at askchrishetrades.blogspot.com are not your regular technicians or channel technicians. We are a new hybrid that is here to help you guys make profit along with us. Just look at the videos if you don't know what I mean. We have had some of these channels in place before price even gets their and that's why I say we are ahead of anticipation. Now back to the main topic STOCKS!! We are in a tight symmetrical triangle on the S&P 500 and the NASDAQ is still above some support as you will see from the video. We want the NASDAQ to breakdown before we can get any conviction that the market will head lower. For all we know, we can still be range bound, but at a slightly lower level. I will be looking at apple to give the tale tale on the Nasdaq breakdown. I didn't go over it in this video, but you want to be paying attention to the QID and the TYP( 3x short tech, which I do go over in the video). I didn't get to post any intraday information on my blog or at STOCKTOCK.COM because I just started working at this new trading firm.I am very excited so you guys wish me the best of luck for I will be looking for future profits using these channels, just as you should be doing the same. Now guys if you like the channels that I draw on these charts you want to " GET CHARTED ". If you are interested in " GET CHARTED ", email me to find out more details about what getting charted is. I go over the key channels that allowed us to play apple to the tee and Goldman Sachs. Now just because apple and Goldman Sachs breakdown doesn't mean we have to play those, especially if you don't have the capital. Just realize these are the big players in the market and they will shake the market and move the XLF or the QQQQ's okay guys. So with that being said, you guys have a goodnight and good trading day tomorrow. If the market decides to fake us out, then just take off your shorts and wait for a better entry or go long if it is telling us the bulls are not over fighting yet. Now I know I may sound more bearish than bullish because I am, but the most key important thing is being able to change your positions quick and adapt to the market. Enjoy!!

Chris C.