In technical analysis a Fibonacci retracement is a trading methodology for determining high probability support and resistance levels on a chart. It uses the Fibonacci sequence and that is where its name comes from. A Fibonacci retracement uses the theory that price swings on charts will usually retrace and backfill a mathematical portion of a […]
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The Wolfe Wave chart pattern is created when price action makes 5 waves showing the key supply and demand areas that create a zone of support and resistance as buyers and sellers fight back and forth until a breakout of the expanding range occurs to a projected price extension. Wolfe Wave patterns can be created
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One of the best places to get free historical price data going back over 60 years is finance.yahoo.com. Yahoo Finance provides historical price data that can be easily downloaded into Microsoft Excel and then used through the spreadsheet to backtest and study by creating formulas and filters. Here are the steps to download the historical stock
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This is a Guest Post by Jake @TrendSpider. In this blog post, make sure to check out the top 5 TrendSpider charts posted this week on social media as well as the link to sign up for this Sunday’s show at 6 PM EST!
Current Chart Patterns on SPY QQQ and IWM Read More »
Have you ever been curious if certain months of the year have any statistically significant stock market returns better or worse on average than other months. Here are the statistics for monthly S&P 500 index performance from 1950 to 2019 to let you see if you see any patterns. Month: Number of times with positive
Best and Worst Months for the Stock Market Read More »
When a market’s price action falls straight down making lower lows continuously without stopping or bouncing back it is considered a ‘falling knife’ on a chart because of its speed and trajectory. It’s not a good idea to buy into a chart with plunging price action that can’t find support before there is a signal
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A cognitive bias is a mental pattern that breaks from logic, reason, and the ability to rationally judge something through the filter of facts and reality. It is when an individual’s thinking is so clouded by their own subjective reality, memories, and experience that they are unable to interpret new information correctly. A cognitive bias
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Is technical analysis bullshit? Many people will dismiss technical analysis as useless before doing the homework to even fully understand what it is or how it should be used. Dismissing technical analysis as bullshit after hearing that academics dismissed it in a paper is like saying no one can make any money in the stock
Is Technical Analysis BS? Read More »
“It’s a big club, and you ain’t in it.” – George Carlin The long term trend of the stock market is up. Not individual stocks, as some go up 1,000% and others go to $0 over the years. However, equities as an asset class tend to go higher over five and ten year periods most
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Look for a mission in life not a job. “Choose a job you love and you will never have to work a day in your life.” – Oriental proverb A career has a path where education and experience leads to growth in value and pay. A job can be any place you go to receive
