I recently posted an article about a basic technical analysis pattern. My goal was to show beginners and even seasoned traders that simple technical analysis trading patterns are viable and important tools that shouldn’t be ignored.
Now, it’s one thing knowing how to identify a pattern that is developing. But it’s a different experience trying to understand when to enter and exit the markets when using technical patterns.
The reason for this is rather simple because patterns are subjective in nature. They’re harder to interpret than things like a moving average or other technical indicators based on math or statistical formulas.
With indicators, you know exactly where to enter and exit your orders. But with chart patterns, it’s easy to misinterpret the chart and your entry and exit points.
If you’re one of my long-haulers, then you already know that I rely heavily on my Cumulative Strength Index scan…
I use it as a barometer for the broader stock market, which helps me gauge things like the S&P 500 to find the hottest sectors and stocks to trade… Because once a company gets to the upper edge of it, it tends to stay there for some time.
You’ve probably also picked up on the fact that Energy has been leading all sectors, followed by Basic Materials…
These have been the hottest sectors of late. But because things have been so volatile, I thought I’d go into even more detail to show you how my CSI scan works in both bullish and bearish markets.
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The Russell 2000 is an index measuring the performance of approximately 2,000 small-cap American companies in the Russell 3000 Index, which is made up of 3,000 of the largest U.S. stocks. It is a market-cap weighted index. Many investors compare small-cap mutual fund performance with the Russell 2000 index because it reflects the return opportunity presented by the entire sub-section of that market rather than opportunities offered by narrower indices, which may contain biases or more stock-specific risk that distort a fund manager’s performance.
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Jeff is also rolling out an all-new option for my readers to receive analysis and other updates in real time — and anyone can sign up! When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.
That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m happy to announce we now have a Telegram channel dedicated to getting my latest analysis to you even faster!
Telegram is an instant messaging app that allows me to get trade ideas, videos and watchlists to you in a matter of seconds.
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