Video Update: 9 July- what next for the S&P?

Welcome to the video update for Friday, July the 9th. First chart up is the EUR/USD pair weekly chart where price is up against the upper keltner, meaning price is in the sell zone. Dial down to the daily chart and you will see price is still in an uptrend with no signals to go short. Note the direction of the moving averages on this chart.

Trader Rick looks at the daily gold chart and we can see from a price action point of view that we are still making HH and HL. If we get a rally in to the sell zone look for a lower high and a 9/30 setup.

Next up is the S&P cash daily chart where we have several noteworthy events happening. Be sure to watch this video to see what Trader Rick is referring to on this important chart. On the 60 minute S&P chart price continues trading higher with no sell signals. Resistance is on up to 1083.

Good trading!

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Tags: 9/30 Setup, price action