Today we saw the decline that we've been expecting lately. Over the
past couple of weeks, Dave revealed a short-term double-top in the
market, and it played out perfectly.
This morning (Aug 4), BEFORE the market opened, Dave posted a video
in the members area in which he said,
"I think this is the beginning of a major decline,"
and he also said,
"the trend of the market is down".
He said once we break to the downside, the next area of resistance
was 11,543. Sure enough, the market plunged to that level before
noon, at which point it bounced and rallied about 100 points before
resuming its decline throughout the day.
Obviously we closed BELOW that resistance point today, at 11383 on
the DOW.
Hopefully those who were following our advice made some serious
profits today :-)
So the question is... what's next?
There is some support at the 11306 level. Also, the market is
oversold at the moment, so there's a good chance we could see a
rally of some sort in the near future.
If we see a strong rally, look for a re-test of the high point at
11850.
If we break to the downside, our next major resistance isn't until
10931, which means we could have a ways to go.
Beyond that, the strongest support is at the 9611 level on the DOW.
In other words, even if we have some rallies (which we will), it
looks like we're now in a down trend which will last a long time.
For anyone reading this who is NOT an active trader, and especially
if you are NOT a member of our Daily Market Advantage, this would
be a good time to PROTECT your assets.
For those of you who want to profit big time from the decline,
you'll need to know the best times to go short, and/or the best
options strategies.
A great way to discover these timely opportunities and strategies
in real time is to join the Daily Market Advantage:
Get the details here
If you prefer to skip the video and go straight to the sign-up
page, you can go here instead:
http://www.dailyma.com/signup995/
With Dave's DAILY cutting-edge technical analysis (explained in
terms you can understand), you'll be confident of when the best
opportunities are occurring. He also gives great ideas for trades,
including options.
Thanks for being a member, and have a great week.
Best regards,
Eric Holmlund
Trading Pro System
DISCLAIMER: No personal investing advice is implied or stated in
this communication. The information presented is for educational
purposes only and should not be construed as personal legal or
investment advice.
