The S&P 500 has rallied strongly since it hit it’s lows back in March but it is now at a critical point because it is caught right in the middle of two trendlines. Therefore if we see a break of the upward trendline then the price could go significantly higher but the opposite is also true if we break through the lower trendline.
Many people take a slightly longer term view when trading crude oil, but it is definitely possible to trade crude oil on an intraday basis using the 30 minute charts, as Adam Hewison points out in his latest video (which you can view by clicking here).
The USO (which stands for United States Oil) is an ETF that tracks the crude oil price very closely. The recent upward surge in the price of oil has therefore lifted this closely-followed ETF as well. The big question is whether or not we are going to continue to see the oil price move even higher in the coming weeks and months.
The results of the government stress tests of the leading US banks were announced yesterday and there were few surprises in truth. However I’ve read a few comments from sceptical traders who believe that these stress tests have been engineered to provide false hope about the state of the banks.
Gold has been trading in a very narrow range recently. The stock markets may have rallied strongly but the price of gold has generally held firm and continues to trade close to it’s 200-day EMA (Exponential Moving Average) and in a range between around $880 and $920.
This blog copyright ©
Stocks And Options 
Powered by Flexibility Theme for WordPress
