http://www.viddler.com/explore/zigzagman/videos/31/
Technical Analysis of the S&P 500's daily and weekly charts, plus a look at the important Economic and Earnings Reports due out next week...
This week's video is more than twice as long the usual eleven minutes, because I feel a major turning point occured in the market this week...It's now been confirmed by numerous recent economic reports that the economy is in worse shape than expected, and the weak response by the Fed with QE2 isn't going to be much help...The market showed us that on Wednesday...Is the Fed out of bullets?...It appears so...
I feel the overall tone to the market has turned quite negative this week, and people are finally beginning to realize that a recovery is NOT happening any time soon..."Green Shoots"?...They all turned brown...Government speaking of "The Recovery is ON"?...Unfortunately, it's NOT!...Great 2nd Quarter earnings?...Sure it's easy to beat expectations when you've lowered them to ridiculous levels...How many banks would have gone bankrupt if they hadn't changed the rules so they could hide all of their toxic assest?...Many!...But don't get me started...I'll get off the soapbox before this gets out of hand...lol
As usual, what the market does next week will be about more fudged earnings reports and more lies from the government in the form of economic reports...I mean really...Unemployment is 9.5% ?...Let's get real...It's at LEAST double that...Maybe triple..."Change you can believe in"?...What change?...Oh, that things are WORSE than they were two years ago?...I can believe THAT!...Thank goodness November is only a few months away...
This video is viewed best in Full-Screen Mode...Click the four arrows in the bottom right corner...Press the Escape key on your keyboard to exit back to Normal Mode...
Happy Trading this week...
zigzagman
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