Accendo Traders Technical Analysis Weekend Wrap Up Trade Plan
Effective Trade Plans delivered daily from AccendoTraders.com. Here is our video technical analysis trade plan for Sunday, July 27th.
The market failed to continue its upswing. Many would say that the market just moved too fast and too far; however, those who watched our videos know that it was simply a case of the major indexes (S&P500, NASDAQ, and DOW JONES) coming into resistance of the 50 XMA. The market has since fallen back to approximately 50% of the short term high and the bottom of the multi month consolidation pattern. If the market continues lower, those who bought long last week will feel the pressure to sell.
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