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Last week’s bearish head-and-shoulders pattern has officially been swept aside with a close above the right shoulder, leaving the S&P 500 within a fraction of a percentage point from touching the 2016 high.  Price action now sits firmly centered in a range that dominated much of 2015.  It has now been more than a year…click to read more.

Remember the possible head-and-shoulders pattern we talked about last week?  It’s here now, and presents a bearish pattern right at a key support level.  The 2040 level on the S&P 500 was tested again intraday before closing just above that level.  If the markets bounce, the pattern will be negated, so we are at a…click to read more.

As bullish seasonality ends, the major U.S. markets are chopping in the middle of a range.  Very important support near 2040 on the S&P 500 has held firm, but the overall uptrend that had been in place since February has been replaced by sideways momentum, and even possibly the formation of a bearish head and…click to read more.

All major U.S. Markets have pulled back over the last several trading sessions with some turmoil in overseas markets as well as lackluster earnings.  The S&P 500 has pulled back near a key support level just above the 50 day moving average, and remains near the bottom end of a possible trading range.  The Dow…click to read more.


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