At least there is something going on to warm my heart.:-)
I saw this coming a mile away... and now it's finally here? Could this be the beginning of Primary Wave 3 down or is it setting up to bounce off of support at 875/ 880 for one last push up on P2 before the plunge? So far the bounces have been very weak, so my best guess is the first scenario. I guess we'll see. Doesn't matter. P3 will soon be here either way, and if I get indicators of any life left in P2, then there's nothing stopping me from trading that, too. Cha ching!
Argh. I can't stand it when axes aren't labelled. I'm not sure if this is the stock market or Obama's recent approval/disapproval numbers. :)
ReplyDeleteMaybe it's both. :-) It's also the S&P 500 closing today below the both the 50 and 200 day moving averages as they converge.
ReplyDeleteI understand the data points in the top graph are the closing numbers. But what does moving averages mean? And what's the bottom graph?
ReplyDeleteis completely lost on this one but hi anyway
ReplyDeleteThe moving avererages track the price movement. The 200 day moving average graphs the movement for the previous 200 trading days, and the fifty day moving average graphs the movement for the previous fifty.
ReplyDeleteThe bottom graph is the MACD. That is the 'moving average convergence divergence'. It's an indicator (one of many such tools) that traders consult to help determine the direction of short-term momentum.
P.S. NEVER trade anything by what I might say on here. I might be wrong. If you want to learn more about charting, this is a great place to visit:
ReplyDeletewww.thechartpatterntrader.com
Even if it sounds like a bunch of nonsense in the beginning, you will eventually pick up some things if you expose yourself regularly to this kind of information over time and develop a real interest. I wish things like this would have been around when I was first learning. That would have been a really cool way to begin!
Hi, JIP! Your company is welcome on any post, my friend.
ReplyDeleteI saw this coming a mile away
ReplyDeleteYes you did. Excellent eyesight by the way, I'm so happy for you. :)
FAZ rang the register bell here too. Off to the piggy bank it goes. (I have a plan to leave the country in a few years, so I must continue to wear other people's rags while I save every cent I can get. Literally)
That is a GREAT plan, Amanda! You can make it happen, too. I know it.
ReplyDeleteI will stick to playing Texas Hold 'em on my mobile phone. Betting with make believe money!
ReplyDelete