In this week’s video wrap, I cover some trade setups for next week as well as follow up some bear call spreads that we’re still holding from previous posts. I also point out some swing trade techniques I share with our Market Timing Service members.
These techniques include the Golden Ratio Trade Setup, the TTM_Squeeze indicator, and Average True Range Bands. If you want full access to all the training videos for these swing trading techniques, start the Risk Free 14 Day Trial on our website.
Weekly Market Wrap Video Transcription
Hey guys! Today is Friday the 13th, April 13th, 2012. We’re taking a look at the ES Futures right now, which is about 30 minutes before the bell on Friday.
S&P500 Technical Analysis
What I’ve got on here already is that head and shoulders I was talking about last week. Basically, that played out pretty well. I know we were talking about a minimum target. If you take the head of the shoulder here and you bring it to where the neckline is and we just duplicate that line, the break of the neckline was right in here.
You can see we came down and found that right there around 1356 we did find support. It bounced off this. This head measurement from the head to the neckline and then neckline down from the break that is the minimum target for a head and shoulders. This is all textbook theory.
But one thing to notice here…