Day trading the S&P500 and watching the perfect title wave.
SPY the S&P500 ETF. Is the tidal wave building that could be the next market turn? The middle class is disappearing, we have record student loan debt, underemployment and U6 unemployment, housing market is stalling and the Russell 2000 is trading at 83 times estimated 2014 earnings. China, Russia, and the US relations are Chaos. I am glad that I know how to short this market. Here is the SPY which is the S&P500 ETF and the major support levels on the way down. Knowing ways to make money in a down market is the key to capital preservation. #trading #daytrading The pattern that could be building is the Head and shoulders. IF we go to the next level of support and then consolidate between these two support and resistance levels this would be giving us a very nice Head and Shoulders pattern. Whether this plays out or not is the difficult question as this is a widely supported QE to infinity market - meaning the Fed will support the market. Lots of volatility in between these moves. Watch yourself. If you aren't experienced in these type of markets, it is best to stand a side. Don't ever risk your capital when you don't have the experience to support it. Day trading course - learn how to trade
