Weekend Technical Analysis On SPX

FTV posts a new stock market analysis video for you weekend stock research fighters.

I dig how the stock analyst for Free Trading Videos talks about Friday's Doji and how a Doji only signals a reverse at the time you have a corroboration day that breaks either the Doji day's high or low depending on wherever the Doji appears.

For example, if you examine the Doji on SPX on Friday, you must have a break, or even better a close, above Friday's high of 1083.56

Provided we get that Monday or Tuesday, Free Trading Videos says we have a higher swing low in place and it is less dangerous to go long with a short time frame.

I am somewhat less positive than Free Trading Videos for the likelihood of a long swing trade setting up for us. Together with the weekly chart of the S&P 500 forming a Bearish Engulfing last week and the near proximity we have to closing the Bearish Head and Shoulders Top pattern, I wager it will be too tricky to pin a decent upswing trade for most traders.

Nevertheless this is a good technical analysis video you need to see.

Furthermore here is a list of the significant economic reports coming next week that may manipulate this market, especially Consumer Confidence that will be released on Tuesday July 29th. I believe at some point Consumer Confidence is going to show a drop thanks to Republicans in Congress jamming the extension of Unemployment Benefits. Normally the passage of unemployment benefits extensions has gone like this; Republicans oppose the extension, then in the 11th hour the measure is passed. Not this time. This time every Republican in the Senate and one Democrat, Ben Nelson from Nebraska, blocked a vote to continue unemployment benefits. The decision will potentially cut off benefits for 1.2 million Americans which will result in a big hit to consumer confidence amongst other things.

Jun 28 08:30 Personal Income
Jun 28 08:30 Personal Spending
Jun 28 08:30 PCE Prices
Jun 29 10:00 Consumer Confidence
Jun 30 09:45 Chicago PMI Jun
Jun 30 10:30 Crude Inventories
Jul 01 08:30 Continuing Claims
Jul 01 08:30 Initial Claims
Jul 01 10:00 Construction Spending
Jul 01 10:00 ISM Index Jun
Jul 01 10:00 Pending Home Sales May
Jul 01 14:00 Auto Sales Jun
Jul 01 14:00 Truck Sales Jun
Jul 02 08:30 Nonfarm Payrolls Jun
Jul 02 08:30 Unemployment Rate Jun
Jul 02 10:00 Factory Orders May