Let’s talk Chart Analysis

[TSP Jedi]

let’s make a thread only for chart/technical analysis, everyone get in on it!

[Chulke]

I agree....cause as an amateur investor this area of investing is still somewhat mystifying to me and quite intriguing. I can pick out some chart patterns and whatnot but I’m not good at it and would like to get better at it!

I recently called a cup and handle formation in an ETF i invest in and it performed exactly as I called it but has since sunk back with the most recent overall economic down turn....I think markets are bit oversold or close to being oversold at the moment....

So yeah this is exactly something I wanna learn more about it! I’m all in for the right teacher!


Cheers!

[TSP Jedi]

if SPY can stay above 287.75 Markets should go higher

[Scarfinger]

if SPY can stay above 287.75 Markets should go higher

Doesn't look like it will hold... 280 currently

[TSP Jedi]

Looking for SPY to put in a low then make a lower high. Filled a gap today and rallied off it. today or tomorrow should be the low.

[TSP Jedi]

maybe fill a lower gap before putting in a higher low

[Octjan2]

You will have some bounce back rallies, but market will most likely head lower. The straight line back to highs without any test of lows we have seen is almost unheard of in history.

[TSP Jedi]

get ready for some rip your face off rallies but here comes long term lower highs and lower lows

[Chulke]

This whipsawing nature we are seeing in the markets is just the result of the large institutional investors throwing their weight around trying to shake the proverbial tree and see what falls out by using the threat of a trade war to rebalance the market...I think....I'm most likely wrong but you see this kind of action in smaller penny stocks all the time...its how the traders make money....create fear of a sell off....all the small fries panic and sell...and as the price drops the big fries gobble up all the shares at the lower price and then as it turns around the big fry's are locked in with bigger gains....

We're seeing it more compounded in the overall market these days because everybody is in a rush to diversify their portfolio that most people aren't buying the individual company stocks anymore they are buying ETF's to spread out their risk so when a sell off occurs it's broader and more protracted in my opinion. Again could be wrong....but just my opinion....Over-diversification is hurting the market


I say all this cause if you look at the longer term,1 Yr, chart for like SPY as an example....there is this long slow steady up trend...and as we approach the beginning of 2018 it gets rocky because we are running out of shares. So the big fry's shake the tree...using a "Trade War" as cover....and now you can see a rather large Cup and handle has formed or maybe a "V" bottom....We're seeing the pullback now.....meaning....I think we're headed higher...I could be wrong and most likely I am but only time will tell....



Cheers!