April 18, 2010 at 12:48 pm | | Comments 1

Video Review of the Indexes 4-18-2010

More new highs were reached yet again last week, although the week ended with some abrupt selling.  What was shaping up to be a quiet down day turned into the biggest drop we’ve seen in a couple of months, thanks in large part to news out of GS.

Regardless, the turn lower is good in the short-term for a couple of main reasons.  First, it reminds traders that the market CAN go down!  Many have forgotten that in recent months.  Second, it should help some new bases to form in the charts of individual stocks, and even lasting reversals in some cases.  The shake-up will be nice, so if the selling caught you off guard, don’t worry.

As we head into a brand new week of trading, let’s examine some important levels in the indexes to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.

This clip was also posted over on the Trading Videos site (as always), and perhaps you’ve seen it there – but in case you didn’t, I wanted to put it here on the blog for you.

Let me highly suggest clicking the “HD” on the video player and then going full-screen for best quality.

Thanks for stopping by and I’ll see you here soon with more.

Until then… Trade Like a Bandit!

Jeff White

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  1. The price hasn’t broken the trendline but it has reached a solid resistance on the weekly chart. Great times may have started from now…

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