The last few days I have noticed three key technical signals that have made me believe that a correction has started to take place and lower prices are highly probable. From the technical analysis I am going to share with you it’s my opinion that we could see a overall market correction of at least 5% on the S&P 500 from today’s current price levels of $1,265.40.
- S&P 500 breaking support
- TLT reversal pattern and break of resistance
- VIX volatility Spike
For Options Trading Strategies e-course subscribers over the days to weeks we are going to observe how the market behaves and develop a trade plan to take advantage of this move and to select what to trade, how to trade it and when. We are also going to be looking for technical signals when it would be prudent to reestablish long trades.
Watch the three part video series at http://incometrading.com/2011/03/technical-evidence-market-correction/