By the GoldAndOilGuy
It’s that time of year again and I’m not talking about the holiday season… What I am talking about is another major market correction which has been starting to unfold over the past couple weeks.

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Both the Dow Jones and S&P 500 face price challenges at critical levels currently, particularly that of the rising 20d EMA.

Let’s take a look at these levels to watch and perhaps develop trades on any breakout from these levels.

First, the simple S&P 500 Daily Chart:

Removing all other factors, the Daily S&P 500 index faces a key “support test” at the confluence of the rising 20d EMA (1,297) and round-number 1,300 level.

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Kung Hei Fat Choi! Happy Chinese New Year in the Year of the Water Dragon!

With all the headlines/news out there, how does one make sense of the current stock market landscape?

I suggest thinking of the current market – at least from its chart perspective – in terms of the dominant Price Range boundaries in terms of Value Areas.

Let’s start with the simple “Value” Chart of the Current S&P 500:

The chart above is a nice update to my recent post from July 11th entitled: