I LOVE THIS SITE, BUT DONT UNDERSTAND SOME OF THE COMMENTS.. WHAT THE HECK DOES THIS MEAN? PLEASE HELP A BEGINNER. "It is in WXY corrective cycle as double zigzag down. The B of Y wave is in progress and expected to end soon. Stay bearish for C wave down".
EWFcw
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@pbenes44, Yes, its the double zigzag and expecting C of Y wave down.
@pbenes44, basically this helps to trader who trading either intraday or swings. Investor has no impact in long run, because they need to focus on bigger time frame analysis like daily or weekly.
pbenes44
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@CycleWave, thank you.. I am looking for investments that are trending upward or about to trend upward. Granted, things can change, but on these graphs you all post, what are the best indicators of upward movement?
EWFcw
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@pbenes44, right now at the current point in time, the market itself is not at the point, where you made good investment. Either you invest for 10-20 years, or you better trade the swings (i hope you understand all the terms). May be cryptos are good at current levels for small time investment like 6 months or 2 years. BUT it need some research by your own before doing that. In stocks you can also find something, but you need to search for that.
Stock market is good to invest, when it drops around 25-40 % like it did last year due to corona.
You are talking about indicators for showing the trend. Like RSI, trend channel, MACD, etc, are doing the job. But you need to first understand that no one indicator works perfectly. It is only works under certain conditions and you should know that criteria before using that. Personally i am using AO indicator (similar to MACD) along with Elliott wave theory, which is great and the only technical tool, which can explain the every market moves. You should learn this. I guess that will be the only thing you can use for any of your investment ideas.
tsx_trader
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You think its going as low as 27.80 ish
EWFcw
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@tsx_trader, yes, something like that OR may be more downside. The reason is underperformance to SPX.
tsx_trader
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@CycleWave, Sounds good, thanks. I hope so, would be a good buy low opportunity.
EWFcw
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@tsx_trader, why you want to buy a weak stock which is not performing against the SPX move ? it will not pay off in shorter time frame. May be you find something else which is outperforming the SPX and having some pull back when SPX will go down.
This is my point of view only.