S&P Market Analysis & Key Levels: Market Map 01/28/18

Weekly Key Levels

Last year our S&P market analysis market map went against many analysts as they predicted tops. I do not expect that to change, because extreme predictions make for television ratings. The phrase bad publicity is still publicity is alive and well. There are so many bad market traders with huge followings. There are people claiming to trade a certain way, but in reality they trade completely differently. It baffles my mind, so I pay it no attention. If trading were easy everyone would do it.

This weeks s&p market analysis is a glimpse at the larger picture. Price is at a resistance area currently, but it will most likely go on to the next resistance point. It is much like a person waiting for the subway train, but also having a great conversation with someone special; another train will come. Price has been on fire so far this month, and I expect a bit of continuation on that. Of course there will be small pullbacks, but I am not looking for anything of significance until our upper target is reached.

Market Map

Our price targets give us a road map of the market. Sometimes new roads are made after the map comes out. Roads are also at times left off the map. As traders, it is important to pay attention to the market to see if our market map needs tweaking. Like I said in the video, there is never a 100% perfect market. Nobody knows the future, which is what makes trading so much fun for me.

Leo Tolstoy’s philosophies have been discussed for centuries upon centuries, because they are highly insightful. Trading is all about achieving greatness and being able to increase the quality of your life, so if you are striving for success in your trading and are unable to obtain it then give us a call for a free consultation.

If you enjoyed this analysis we have a trading course that goes over analysis and how to spot trade setups off of that check out our Trading edge course.

Entreprenuer, Trader and Philanthropist

Matt Dye, Founder of ABusinessWithTrading, is a professional trader who specializes in trading price action. His mission is to empower traders through education, and every month attracts readers across 50+ countries. To discover more about Matt’s Price Action Strategies, visit his Trading Courses page.