Many traders get so involved with the market on a daily or even an intraday basis, that they somehow lose out on the bigger picture. Weekly charts are enormously helpful in giving clues to the future direction of the market.
In today's video we examine one of the biggest markets in the world, the S&P 500, using a weekly chart. The video runs about two minutes in
length and I think you will find it both educational and informative.
As always our videos are free to watch and there are no registration
requirements.
Enjoy the video and be sure to comment on our blog.
All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub
As of today close (9/3), don't we have weekly bullish engulfing candles on most of the major indexes?
Yes, you're spot on, I've been working on weekly charts and doing monthly trades for several years, and it works ver well for me.
Hitesh,
This video is based on Technical Analysis, using Monthly and Weekly Trade Triangles.
You may want to explore the video library to find information about the wisdom of trading the news and fundamentals.
Good luck.
Interestingly, the size of the size of the confirmation candle and the ensuing downswing seem to be getting smaller. Could this be an indication that the negative action could be coming to an end, perhaps maybe some sort of trading range?
nice, i really like the way you inform the people in order to understand clearly the events that are happening in the world of market... i want to know more information on how the stock market work, and how to indicate when the market will move again.thank you
Tough day for the shorts... if the SPY is going down it sure isn't going that way today. When I wrote this at 2:55 on the next day from this chart ( friday) the dow was up 150 points. Wrong way MACD! If this is an abberation do you think the S and P will fall down to 1000 or lower? Can you guestimate when?
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