Monday Update – SPX, RUT and Oil

Based on feedback from the last video update, we will be posting video updates 2-3 times a week to explain the charts we post in this site. Today we focus on the previous posts regarding the Russell, S&P and Oil.

SPX – two zones to watch this week – 42-38 and 28’s – expecting a decent bounce to 90’s or so then lower prices. More later this week. Watch for divergence to maintain itself.

RUT – 1222 likely support area with extension at 1215 – divergence here must maintain itself also.

CL – Called a 5-3-5 structure two weeks ago and it has played out beautifully. Looking for a turn here and a trip to 64’s minimum.

Next Video Update on Wednesday.

Written by:

Stan Nabozny

Stan is a 20 year retail trading veteran and Co-Founder of The Art of Chart. His specialties include using futures and options to trade Energies, Precious Metals, Equities, Currencies, Bonds, Softs, Grains and other commodities. Stan believes that Risk Management and Trader Psychology are more important that technical analysis and spends his time teaching and coaching other traders on these topics. Stan uses various trading systems and technical analysis approaches that integrate time and price in his work. See his latest articles here and www.huffingtonpost.com.

06th Jul 2015

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