Two Key Levels Show How to Best Play the Market

Whenever I’m working closely with a market, I make it a priority to identify both a bullish and bearish key level as soon as possible… [Jeff Clark's Market Minute]( Two Key Levels Show How to Best Play the Market By Imre Gams, analyst, Market Minute When a bear market first kicks off, it’s extremely frustrating for traders. That’s because there are many shapes and forms the bear can take. Typically, a bear market will unfold one of two ways… either as a sharp sell-off, or a long drawn-out affair. The fast crash we saw in early 2020 was the sharp kind of market correction. The bear market we’ve been in since 2022 is of the second variety. This kind of bear market requires patience to navigate successfully. It’s taken some time, but I now see two clear parameters that will determine where the market goes from here. Recommended Link [Bear market expert makes new prediction]( [image]( Nobody believed Larry Benedict’s prediction in February 2020. The DOW plunged 3.5%, and he told CNBC, “It seems like there’s much more to come.” Within a month, the market plummeted 34%. Then, nobody believed Larry at the start of last year, either. He predicted that “all the indexes will be negative for the year,” with the Nasdaq leading the way. Once again, he was spot-on. Anybody who followed his recommendations could be well in the black. Now, for the first time, Larry’s coming forward to share a brand-new forecast. [Click here to watch his interview right now.]( -- Let’s look at a price chart of the S&P 500 to show you the two possible scenarios I’ve identified… [(Click here to expand image)]( Since June 2022, the market has been trading sideways in a wide 658-point range spanning 4325 to 3667. This market structure is called a running triangle (blue lines). Once a triangle completes, prices move in the direction of the larger trend. In the case of the S&P 500, this trend is still to the downside. All triangles have five distinct legs. I’ve labeled these legs on the chart using the letters A, B, C, D, and E. Once the “E” leg of the triangle completes, we’ll likely see a sharp reversal that’ll take the S&P 500 to much lower levels. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. The price trigger that’ll confirm this bearish scenario is if the market breaks through 3855, which is the closing price from the March 13 low. This breach will see the market trade lower to at least 3200. On the other hand, bulls are hoping the market can break through 4179 on the upside. If the market can trade higher through this level, it would eliminate the bearish triangle scenario. [Finally, gain financial freedom in 2023 using this method]( Whenever I’m working closely with a market, I make it a priority to identify both a bullish and bearish key level as soon as possible. Once I have those levels, I have clear parameters to trade with. For instance, if the market confirms the bearish triangle scenario by breaking below 3855, then I know to play the short side. Keep a close eye on both key levels I’ve identified. It won’t be long now until the market tips its hand. Happy trading, Imre Gams Analyst, Market Minute READER MAILBAG In today’s mailbag, a [Jeff Clark Trader]( member shares their thoughts on the dollar and gold… The dollar hit its peak and other than a few blips up, it will continue to go down through the end of 2023. Gold will continue to go up with some dips down. How much money can we print and expect the dollar to keep going up? The Fed will keep raising rates and the market hasn’t hit its bottom yet. But we will see it this year. – Sam D. Thank you, as always, for your thoughtful comments. We look forward to reading them every day. Keep them coming at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [Millionaire Trader issues new warning:]( “I’ve accurately predicted many market crashes over the years, but my new prediction is different. It’s directly connected to the money in your wallet.” [Get the details below – including a unique solution.]( [image]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. 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