Ep 71: Stock Trading in Volatile & Fearful Markets
★ SUMMARY ★
On today’s episode of Let’s Talk Stocks we are on episode 71 and we will be talking about the volatile market. That’s the name of the game, that’s what we’ll be looking at evaluating. We’ll be looking right at the charts and I’m going to take a look at some of the popular companies as well.
That way I can give you some insight on what’s going on underneath and how the charts are moving reacting and behaving. If we take a look at the S&P 500, which is one of the indices that I really love trading and it’s one of the industries that a lot of big investors also look at.
Let’s take a look at the market
This indices right here, if you’ve been with me for quite some time you know and understand what’s going on underneath and what we’ve been talking about over the last month and just the different things have been talking about.
We discussed that we were moving sideways for quite a while and I said that if we break certain levels, we were talking about this 2000 level in the past, that things could get nasty real nasty and here as you see unfolding or things unfolding over the last month and a half year or last month.
Things have been getting fairly nasty, at least the according to the news, according to what’s going on and what’s happening and you know in part they say this is due to economy, this is due to oil prices, in reality it doesn’t matter what the core reason is because there’s multiple reasons that impact the market.
There’s multiple things that affect the markets, it’s not one specific individual thing but looking at the overall pattern for those of you that are my let’s say intermediate to advanced traders, or people that have been with me for some time you’ll slowly start seeing this A to B, B to C, and C to D pattern forming.
What does that mean? What is my prediction basically off of this A to B, B to C, and C to D pattern, because we haven’t finished the C to D and you don’t know the pattern until it’s fully complete but this is how stocks move, this is how they move in behave.
For me what I’m looking at is that potentially for the small term, meaning small term here over the next month or two these stocks are nibbling and touching this level of support that we’re discussing here at eighteen hundred and ten eighteen hundred and fifteen, those are the key support levels 1812 really is the base.
Then if we dragged the S&P line all the way over, you’ll notice the lows in October of 2014 is right around 1820, that’s a critical line of support and we’ve basically broken that a little bit we’re touching with it we’re playing with it.
Posted at: http://tradersfly.com/2016/02/ep-71-volatile-fearful-markets/
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