S&P 500 (SPX.X) Index Special Trend Reversal Technical Analysis Bull Rally

Date: 7/8/2011

S&P 500 (SPX.X) Index Special Trend Reversal Technical Analysis Bull Rally Pauses.S&P 500 Index Support & Resistance Levels. The bull sentiment changed on the jobs number and all eyes are on Congress & President Obama on the debt ceiling resolution. All market pundits are looking for the 2nd half recovery.

The Federal Reserve may be looking to ease more on QE3 and if they do we will see increased commodity prices. What they need to do is give corporations incentive to hire in the United States. Everyone is looking for government stimulus and government hand outs. Given the import export relationship, we need to pull jobs back to the United States and that is they type of action the bull needs to create a sustainable economy. Everything the Obama administration and Federal Reserve are doing are only creating short term bull case senarios but longer term these economic stimulus end up failing.

July 2011 Earnings Seasion kicks off on 7/11. We have a Weekly Doji bar on the S&P 500. It's important to scale out of these markets at overbought sectors. If Obama does the right thing and the bull case comes into play we can come back up to the 1,370 handle on the S&P 500.We put in a double-bottom low and rallied up to yesterday's highs and we came up too far too fast. Sign up and learn how to trade these trends on the S&P 500 using Index Options both Calls and Puts.

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