It's been 2 months since my last video and the market has remained determined to retrace it's 2008 losses. In that last video i stated that I didn't believe that we would sustain any relevant downside price action until we reach the 1145 mark on the S&P e-mini futures. As can be seen on this chart we have reached that level. Topping out at 1148 we have put in a significant amount of long red candles leaving us resting at support at the 1050 region.
So now the question is where do we go from here?
With a near 10% unemployment rate and California being considered to be the first failed state, Sovereign nations finding themselves in need of liquidity after falling victim to an appetite for to much risk; it's still an understatement to say that the world as we no it is in great peril. I am not sure on the path that it will take but the destination is almost certain. I believe that the right now America is in a position to prosper with epic proportions. The process that this will take is vast and it certainly will not happen over night however that is the beauty in its design. When considering the size and scope of the problems that we are facing as a nation it no longer matter not what color tie One likes to pick when they vote to know that once we come together we can ensure a better future for younger generations.
I know that is a lot to get out or put in to one chart but end the end when you make a trade you are not just trading pieces of paper. With the political, economic and social agendas that have been proven to move todays markets, I would not be so quick to short the future. However bullish I remain in light of the recent events I am still a trader. As a trader I look at THIS CHART of the SnP only one thought comes to mind... "Nuclear Winter"
What is nuclear winter?
Stay tuned for my next video....
Trade Well, Trade Smart, Trade Own...
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