Stock Market for Beginners

Since last week, we can see that price has bounced off the 1480s support level. In fact, it seems as if the S&P has fallen into a trading range, bouncing between 1480s and 1540s.

Furthermore, RSI has been oscillating around the 50 levels, confirming the indecision in the market. Wednesday is July 4th holiday and the stock market will be closed, so expect lower volume this week because many investors will be going on vacation and leaving their portfolios on autopilot.

Look for a breakout on the next touch of resistance at 1540. This could be the last major move up in this bull market (and that last move will be very, very big - it always is before the market comes crashing down).

<< Previous Stock Market Overview - June 23rd <<

>> Next Stock Market Overview - July 8th >>

Share This