Keep a Flame Burning for Natural Gas

The market is getting crushed on nearly all levels this week. The major indices, bonds, and gold have all fallen sharply over the past two days as the larger market kicks off a second wave of selling on the weekly time frame.

The recent action this week in the S&P 500 is similar to the two-wave drop it had on the daily time frame at the end of last month. For the first time all year, we are seeing the confirmation of the larger weekly price correction we had been waiting for all spring. Looking back over prior weekly corrective moves, it's easy to infer that the bulls will continue to have a rough road ahead into summer. The next major weekly support in the SPDR S&P 500 (SPY) isn't until $156. So, even a minor exhaustion-driven bounce intraday into the weekend will likely come under pressure again next week....428 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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