When it comes to chart reading skills and Technical analysis skills, its best to keep things simple. And always include Volume analysis in your study. The S&P 500 is at an interesting point on Sept 18. Optiontiger is the creator of proprietary Options trading strategies that give traders a 75% edge on every trade. Please visit these links for more information. 1) SwingtradeMAX for swing trades - 20% to 80% in a few days to few weeks - http://www.optiontiger.com/swingtrademax/ 2) DayTradeMAX - this is daytrading on steroids - http://www.optiontiger.com/daytrademax/ 3) CondorMAX to manage Iron condors - http://www.optiontiger.com/optionedge-trading-system/ 4) IncomeMAX spreads and straddles systems - Dredit and debit spreads and Straddles and Strangles - http://www.optiontiger.com/incomemax-strategies/ 5) EarningsMAX - Powerful playbook of Earnings trades. Take advantage of Volatility bump and the "Crush" http://www.optiontiger.com/earningsmax/ YOUTUBE CHANNEL ------------------------ To access over 400 Options education, trading, and stock market videos, please visit our YouTube Channel – https://www.youtube.com/user/OptionTiger

2. Putting Chart reading skills to the S&P 500
When it comes to chart reading skills and Technical analysis skills, its best to keep things
simple. And always include Volume analysisin your study. The S&P 500 is at an interesting
point on Sept 18. After last week’s announcement of QE-ternity, markets have hit a 4-
year high. Fundamental analysis tells us the market is overbought at this point. The
economic recovery does not warrant this high a level. But let’s see what the S&P charts
are telling us.
Figure I is a 6-month chart of the S&P Futures. A nice trend channel has been developing
over the last 3 months. Thursday was the big announcement, and markets went up on
very high buying volume. It broke through the trendline decisively but closed off the top.
On Friday we hit a 4 year high with the S&P 500 Futures touching 1468. But Friday’s price
action deserves some study (Figure II below). The Volume was high, but the bar closes in
the lower half. Now, Fridays are generally profit taking days especially after a big move
up during the week. There was definite selling pressure towards the close on high
volume. This was a bearish end to the week. Not surprisingly, this week has seen two
down days.

3. The rest of the week should reveal which way the S&P wants to go. Its resting on its 5 day
moving average and is very close to the trendline. Friday’s action is definitely bearish,
but the trend is still upwards. If the 5-day moving average starts turning down (right now
its still squarely pointing upwards), we may have seen a near term high at 146 8. Let’s see
how the rest of this week plays out.
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