U.S. stock futures were down Thursday morning as the major indices gave up their gains following Wednesday’s post-Federal Reserve meeting rally.
The fact that the market rallied after the Fed raised interest rates by three-quarters of a point is a positive sign and had me more focused on where the market closed on Thursday than where it opened.
If what we’re seeing now is just a market shake out, volatility via the VIX, or fear gauge, won’t head much higher…
But what I’m paying the most attention to right now is if the XLY, which has been one of the weakest sectors for a while. It broke its lowest low on Thursday, but if you look at its recent price action, you’ll notice it’s been holding up well so far…
Everyone needs a few different chart patterns for beginners to focus on when they first start out trading.
Most people learning how to trade start with what I call an “indicator fascination.” They dive right into advanced analysis methods that confuse and oftentimes discourage them from continuing to trade.
When I first started out, I was under the impression that the more difficult methods would produce a higher probability of winning trades.
I purchased several books and magazines that discussed Gann Lines, Geometric calculations and Elliot Wave Principles that required a Ph.D. in physics to understand. I can promise you the only thing I learned after following these methods was to stay as far as possible away from them.
The Russell 2000 index is an index measuring the performance of approximately 2,000 smallest-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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We just got the largest year-over-year increase in inflation we’ve seen in over 40 years, despite being told last year inflation has peaked! And Jeff Zananiri has some words.
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