This video is a follow-up to the video published earlier today providing the long-term outlook for the US stock market via weekly charts with a focus on the near-term outlook of the S&P 500 along with about a dozen of the top components via analysis of the daily charts.
playback speed can be increased in the setting to reduce the duration of the video
As with the video covering the long-term charts published earlier today, this one runs a bit longer than usual as there are a lot of significant developments & key technical levels worth highlighting on these market-leading stocks & sectors that have the potential to determine the next major trend in the US stock market.
Bottom line: It appears that the risk for a significant correction in the US stock market is elevated at this time & should the support levels & potential technical developments outlined in this video begin to give way & play out, the odds would favor a very sharp & swift sell-off.
While these potential bearish developments may or may not play out, I wouldn’t have spent so much time on the two video published today if I didn’t think that the significance, if they do, was not worth the effort & time spent covering these developments. The important thing is to have a trading plan in advance, whether one is a long-term investor that only trades long positions, looking to protect profits, or a swing trader with a flexible trading style that is comfortable with shorting the market, individual stocks, sectors or ETFs.