There was a steep drop, then a tremendous resurgence in the markets. Was that it? Is the pullback over? Don’t bet on it! Forecaster Harry Dent gives you an update on his research as to where we go from here, including a look at the equity markets and real estate. Find out what Harry Dent sees waiting just ahead as we go through the rest of July and August. In addition to this video update, Harry is making available his special report, The Debt Crisis of late 2010 — 2012 for free by visiting www.hsdent.com/debtreport-lp

Bulls were amazing today, were they not? Reverence and props to the bulls on today’s chart, they deserve it. However, I wonder what Goldman Sachs will be telling their high networth clients when they find out all those billions will soon be in a campfire keeping them warm from the hungry bears. It’s only a matter of time.

Let’s consider though, one day does not a market create. Ask yourself the question, is it feasible for 1 day to deny 2 months worth of trading? Of course not, that is stupid.

We continue to trade under a Bearish Head and Shoulders Top. In fact, on the weekly chart, bulls have not yet taken the market up a sufficient amount to test the neckline resistance yet. Worse, yesterday we just had a Burial Cross of the 50 day moving average breaking below the 200 day moving average. In other words, today’s stock market movement is little more than a spring back within a greater downtrend until proved otherwise.

Commit to memory, the trend is your friend and the trend is still down. Stock trade with the trend.

I am for ever and a day amazed at how lots of investors will get terrified out of their short positions because of one day like today. From time to time trading is tough like it is today. You need to burrow your heals in and proclaim, I will not be scared out of my short position until the stock market tells me that I should. As long as important resistance levels have still not been taken out, this stock market is in a downtrend. As the market is technically in a downtrend, I will not get petrified out of my short position.

You will notice that if you have the restraint to stick to your stock trading method, you will get 75% of your calls right. The test is to be able to stick with your trading system when the market moves in opposition to you. The test is to have no preconceived notion, no optimistic bias and no bearish prejudice. The basis for why I’m short this market is not because of politics, not because I am a gold bug, and not for the reason that I am a want to be economist seeking to predict the future. I am short this stock market because technical analysis tells me from an dispassionate point of view that this market is in a downtrend. I’ll be long this stock market when technical analysis tells me the market is in a bull run. No feeling. No commitment. No predisposition.

In the video below I will update you on the S&P 500 and explain the reason why I believe this market is still in a downtrend.

About Positron Corporation

Positron Corporation (Positron) operates through Molecular Imaging Devices and Radiopharmaceutical Products. The Molecular Imaging Devices provide positron emission tomography (PET) scanners and single photon emission computed tomography (SPECT) cameras. The Radiopharmaceutical Products offer the robotic systems for distribution and delivery of radiopharmaceuticals and provides radiopharmaceutical agents used for the diagnosis of cardiac diseases. In June 2008, the Company announced that it acquired NukeMed, Inc.’s subsidiary, Dose Shield Corporation and has formed a new subsidiary, Positron Pharmaceuticals Company. Positron designs, manufactures, markets and services advanced molecular imaging devices/software for cardiology utilizing PET technology under the name POSICAM, and SPECT technology under the name Pulse CDC.

(Public, PINK:CPRK)

With the recent success of Copper King Mining Corporation (PINK: CPRK), a technical video analysis was conducted in order to update expectations on what is likely to happen in the coming days. Our conference call was a tremendous success and nabbed quite a few details on the company’s current and future business operations, we highly advise any newcomers to listen in on the call by following this link. The next couple of days could get real interesting, so make sure you place this stock on your watchlist.

About Copper King Mining Corp.

Copper King Mining Corporation is a Nevada Corporation whose stock is currently traded on the Pink Sheets under the trading symbol CPRK.PK. Through its wholly owned subsidiary Western Utah Copper Company, the company engages in mining activities that include exploration, development, extraction and processing of precious metals, including copper, silver and gold, from its extensive mineral resources located in and around the Milford Mineral Belt in Beaver County, Utah. The company owns or controls approximately 100,000 acres of mineral rights, primarily in the Milford, Utah region

The Milford Mineral Belt is a mineral rich area measuring approximately 18 miles long by 8 miles wide, of which the company controls approximately 59,000 acres of mining claims, State of Utah leases and other leases, that have been categorized as highly probable, probable, or likely for copper, silver, gold, tungsten and molybdenum.

Technical Analysis

During the last trading session, a White Marubozu was formed. This shows that the buyers controlled the price action from the first trade to the last trade. A White Marubozu simply means that the opening price is equal to the low price of the day and the closing price is equal to the high price of the day. This shows that the buyers controlled the price action from the first trade to the last trade. In a White Marubozu day, the day opens and prices continue to rally up all day long without looking back. The bulls were very strong during the day at such a degree that it caused some concern among the bears and led them to cover their short positions thus adding fuel to the rally.

What the White Marubozu says about the future course of the trend depends a lot on the general picture. A White Marubozu can possibly be the first part of a bullish continuation pattern but it may also be interpreted as a bearish reversal candlestick pattern depending on the preceding day’s candlesticks.

Disclosure: Long CPRK

TheMarketFinancial is not paid, compensated or in any way incentivized to report news and developments about publicly traded companies, unless otherwise stated.

(Public, AMEX:END)

A bullish technical trading alert has been issued by TheMarketFinancial.Com on Endeavour International Corporation after company insiders purchased in excess of $5,954,998  USD on the open market at a $0.90 price per share the last couple of days. This activity is generally perceived as a strong indicator of the company’s shares rising with expected upcoming news. Below is a technical analysis video on what you can expect in the upcoming days / weeks. All information gathered using nsider-monitor.com

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About VirTra Systems Inc.

VirTra Systems, Inc. manufactures, markets and sells its immersive virtual reality (IVR) products in two markets, which includes law enforcement and military. The Company offers two versions of its IVR 360-degree high-definition firearms training simulators: the IVR HD for use in marksmanship, conflict resolution, and situational awareness training of law enforcement and security officers, and the IVR 4G, for use in military firearms/marksmanship training, situational awareness, and fourth-generation squad-based training.

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When taking a look at the chart, it is easy to see why some investors who have began their story with this company might be hanging on by a thread right now, but should they really feel this way? The simple answer is, no. Every great company needs a consolidation period to reset technicals, get rid of bag-holders and regain new momentum from future investors. What goes up, must come down, and the cycle is repeated time and time again. As seen from the RSI, it is still technical sound and the stock has not yet reached an overbought state. VTSI also maintains a strong support in the $0.08 to $0.09 region which will not be broken, right now it is being tested simply by a) Market Makers and b) Long-Term Bag-Holders. Furthermore, we take a look at the MACD divergence which should begin to see a paradigm shift in the upcoming days, and thus bringing Stochastics up along with it nicely past the 50 zone, which was the same occurrence that brought the stock up in the previous two massive spikes. This time will be no different, consolidation, slight sideways trading, and a shooting star right after.

This momentum is further confirmed by the many large green volume bars which trump the many red sell bars, thus establishing a long-term up-trend which is perhaps the best news for investors that have recently jumped in on the stock. For nearly a year this stock has been engaged in a tremendous uptrend as indicated by the green line, and nothing should change as consolidation is all too familiar with this stock. Any current investors should use this time to load up on more shares, or wait it out for the bounce back most likely coming on the high volume Monday.  One common rule-of-thumb in investing is: Never invest in a stock  if you don’t plan on adding on the dips.

Disclosure: Long VTSI

TheMarketFinancial is not paid, compensated or in any way incentivized to report news and developments about publicly traded companies, unless otherwise stated.

Why is this the week to make or break the market? Because Wall Street is beginning to get nervous over these disappointed earnings announcements. In addition, this week sees a mega ton of announcements that will either confirm or deny the earnings announcements from AA, INTC and JPM that already hit The Street. Wall Street awaits Intl Business Mach. (NYSE: IBM). They will report earnings after the bell today. Earnings whisper numbers hover around $3.50 for the fourth quarter of 2009. In addition, the stock has just hit a new 52 week high today. In general stocks that move up or hit 52 week highs into earnings see approximately a 65% chance of a pull back. Watch closely with IBM as it will set the tone for tech tomorrow.

IBM is just one of the companies reporting this week. Wednesday, prior to the open the market will get earnings from Morgan Stanley (NYSE: MS), Wells Fargo & Co. (NYSE: WFC) and Bank Of America (NYSE: BAC). Watch for the credit card defaults and other issues on the credit side with these banks. Wall Street and Main Street have been on a different track of late. Recent earnings are beginning to make people wonder if Wall Street got too far ahead of Main Street.

These bank earnings will show much more clearly if this is true.

Later this week earnings from Goldman Sachs Grp. (NYSE: GS), American Express Inc. (NYSE: AXP), Google Inc. (NasdaqGS: GOOG) and General Electric Co. (NYSE:GE).

The key to looking at this market and whether or not it is topping or getting ready to blitz higher is in these reports. The market is on edge and will be analyzing these to see if a recovery is truly underway. As the Chief Market Strategist at InTheMoneyStocks.com, I feel this market is near term overbought and due for a pullback. However these reports will tell the tale. Watch closely. Live, Learn, Profit!

Gareth Soloway
Chief Market Strategist
InTheMoneyStocks.com

God Bless.