Market Outlook for Wed

There are two things to take a look at for Wed. First are the fundimentals. The Greece thing has settled down, but now investors are unsure if Greece can be trusted to honor this agreement. Also, while China seems to have rebounded with the efforts of its governement, what if there is another bounce downward. These things are weighing on investors minds.

Now lets take a look at the chart:

There was another white candle today but you can see that there is a bit of a tail on the top of it, showing an attempted push to the upside yet further, but was a failure. This shows that the market is now started to encounter an upside resistance pushback, which signals a near topping out for the short term. Take a look at the QQQs chart. Its like waves on the beach. push, back push, back. The wave is now winding down pushing up the beach and is about to start coming back, I would say on Thurs.
I had no more trades for you today because after I reviewed all the possible bounces on the most down list today, they are actually all down for good reasons. A contrarian trader knows when to stay to the side.
More pics tomorrow.
Tradinginsider