{"id":2335,"date":"2010-07-09T10:23:03","date_gmt":"2010-07-09T14:23:03","guid":{"rendered":"http:\/\/club.ino.com:80\/trading\/?p=2335"},"modified":"2010-07-09T10:53:42","modified_gmt":"2010-07-09T14:53:42","slug":"3-strikes-against-the-sp-500","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2010\/07\/3-strikes-against-the-sp-500\/","title":{"rendered":"3 strikes against the S&P 500"},"content":{"rendered":"

\"\"<\/a>The sharp rally in the equity markets this past week pushes the S&P 500 back into a zone that should present problems. I've included below, three important factors you should be considering in this market:<\/p>\n

Strike one is that we've already reached a 50% Fibonacci retracement<\/a> from the high seen at 1116.59 and the low of 1022.40. This area indicates increasing resistance on the upside for the S&P 500<\/p>\n

The second strike against the S&P 500 is the downward trend line from the mid-April high that intersects the market around the 1080 level. This technical force should also act as a resistance level.<\/p>\n

The third strike is our monthly \"Trade Triangle\"<\/a> which remains in a negative position. The monthly \"Trade Triangle\" is also confirmed by the weekly \"Trade Triangle\" which remains in a negative position. The -75 score indicates that the downtrend, while not as strong as before, remains intact.<\/p>\n

Based on these three strikes, we expect the market to move first into a trading range and then to resume its downward path.<\/p>\n

All the best,
\nAdam Hewison <\/a>
\nPresident of INO.com
\nCo-founder of MarketClub<\/p>\n","protected":false},"excerpt":{"rendered":"

The sharp rally in the equity markets this past week pushes the S&P 500 back into a zone that should present problems. I've included below, three important factors you should be considering in this market: Strike one is that we've already reached a 50% Fibonacci retracement from the high seen at 1116.59 and the low […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[310,2692,2691,2919,59,3364,3184,3158,3157,3365,1768,619,3235,2074,2706,3234,566],"class_list":["post-2335","post","type-post","status-publish","format-standard","hentry","category-trading-videos","tag-dow","tag-dow-analysis","tag-dow-chart","tag-dow-video","tag-fibonacci","tag-important-stock-video","tag-index-update","tag-major-indices","tag-market-analysis","tag-market-indices","tag-marketclub-tips-talk","tag-nasdaq","tag-nasdaq-video","tag-sp500","tag-sp500-analysis","tag-sp500-video","tag-trade-triangles"],"yoast_head":"\n3 strikes against the S&P 500 - INO.com Trader's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2010\/07\/3-strikes-against-the-sp-500\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 strikes against the S&P 500 - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"The sharp rally in the equity markets this past week pushes the S&P 500 back into a zone that should present problems. 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