Hey everyone. You can go ahead and share your thoughts about what will happen in the markets next week and how you plan to trade right here. I’ll have another video either today or sunday about some specific stocks. Have a great weekend.

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Today we looked out or two great trades that we made as we were able to predict some strong breakdowns in the markets. Both GOOG and Visa (V) managed to breakdown some important levels. We got GOOG short on the restest of an important fib retracement, and Visa once it broke down a very important support level.

In this video we also looked at some other stocks and setups. The SPY seems to be breaking down yet again and my see it’s $104.50 level again.

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After a long hiatus, I’m back with another video, perhaps just in time for a 3rd of a 3rd of a 3rd wave down in the major indexes!

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Prechter on Yahoo! Finance: “On Schedule for a Very, Very Long Bear Market”

Robert Prechter discussed the recent global sell-off that has sent all major
U.S. averages 10% below their 2010 highs with Yahoo! Finance Tech Ticker host
Aaron Task on May 20, 2010. Prechter says that the current climate shows that “we’re
in a wave of recognition” where the fundamentals are catching up to the
technicals and that it’s time to prepare for a “long way down.”

For
more information from Robert Prechter, download
a FREE 10-page issue of the Elliott Wave Theorist. It challenges current
recovery hype with hard facts, independent analysis, and insightful charts.
You’ll find out why the worst is NOT over and what you can do to safeguard
your financial future.

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FocalEquity

2:47pm
Idan shares his market statement. Here’s a copy:

Good Afternoon Traders & Investors:

DISCLAIMER: This statement is for educational purposes only and not a recommendation to buy or sell any particular financial instrument.

Over the past 4 months the market conditions have improved somewhat as unemployment fell, housing stabilized and a deflationary spiral has been averted.

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Today we look at various stocks from across sectors as we get the start of what we believe could be a 5-10% correction at least.

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First of all, make sure you check out the new site:http://www.focalequity.com
And subscribe to our new services, that are literally $1 a day for great quality trades.

In this video i mention that today is an important day as we believe that the bears defended the 1175 SPX level very well and could gain momentum going into tomorrow. The engulfing red candles are very ubiquitous and should provide bears with the right push lower to at least 115 on the SPY.

We also look at GLD and point out that there is an inverse H&S on the daily chart nonetheless.
We also look at trades made by the hedgefund on UTI and WYNN. And talk about AAPL and GOOG as potential short trades.

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The crude oil market came under pressure on Monday. This oil market video was created on Sunday by Adam Hewison. Nonetheless, I think you will find it useful as it outlines his position in this market based on Market Club technology.

The video is short and to the point, nonetheless I think you’ll have a lot of good takeaway information. As always the video is free to watch and there are no registration requirements.

I would really like to hear back from you with regards to your thoughts on this video. All the best,

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