Last Friday's 1.5% drop in the major indices certainly was a surprise to a lot of people, but was it predictable? The answer has to be yes and no, here's what I mean. For some time now, the major indices have been moving sideways based on the Trade Triangle technology. What that means is that the monthly Trade Triangles are indicating that the long-term trend remains positive, while the weekly Trade Triangles are negative indicating the intermediate-term trend is down. That tells you there is a conflict between the Trade Triangles and that the market is in a broad trading range. As with any trading range, you're going to see sharp upward and downward moves. So did Friday's move to the downside do anything to really change the general market? The answer has to be no because the general market is still contained within its broad trading range which I have illustrated on the chart below and in my recent videos.Don't forget to watch today's video (that will be added later) as I will be giving you an up-to-date analysis of what is going on in the markets right now. In addition to covering the major indices, I will also be looking at gold, crude oil and the dollar. I will also be analyzing a very special stock I found that bucked Friday�s big down move. You need to watch today's video to find out the name of the stock and where I think it could go. If the video link is not yet live, please check back this afternoon. It's a new week and I'll be keeping you up-to-date with all that's going on, including Greece. There should be some wonderful trading opportunities this week, so stay tuned. Thanks to all the readers who commented on our blog last week. We really appreciate you taking time out of your day to write to us. We are still laughing at some of your entries into our "Fill in the Caption" contest. Many thanks for providing everyone something to chuckle about.
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