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| Markets wrestled to find a direction last week and signs of a potential slide are looming. The NASDAQ gapped down at the open on Friday below its 10 day moving average which had been previously providing support. When prices are searching for a trend it can be a big warning. The moving averages can provide a very basic alert but often need additional context to really get dialed in and provide a clue to direction and price target. It is always important to confirm these moves with other indicators. It is even better to use indicators that have proven successful in these types of market climates. Indicators like True Strength Index (TSI), Channel Commodity Index (CCI), and Fibonacci Exponential Moving Averages (EMA) can be extremely effective at finding an accurate path for prices in these bouncy moves. If you think of it as a view from an airplane, the moving averages can give you the direction and the other indicators can get you right to the runway and help you determine the best way to land. Making that example even more true is the fact that we are kind of flying through the clouds right now and need a reliable beacon to steer towards. Wendy Kirkland has put together a training video that show how to combine the best indicators for times like these and proven strategies to spot and grab winning trades. If you missed the link to that video earlier, you can still access it here.
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