Market Analysis Video: Has the S&P Index Broken Final Support?

In the previous video on the S&P 500 last week, it was indicated that this market may have topped out for the year.
As a follow up, this latest video shares some ideas that could potentially come into play for this market, such as potential downside targets and pattern that may evolve in the next several weeks.
Hope you can benefit from this. :)

Related Topics:
* Free Trading Educational Video: Learn Technical Tips from Dan Gramza
* Learning Candlestick Charts
* Learning Charts Patterns
* Understanding Implied Volatility (IV)
* Understanding Option Greeks
* Understanding Option’s Time Value

Analysis Tool:
Get Free Trend Analysis for your favorite symbols

Market Analysis Video: Has the S&P Index Topped Out for the Year?

Have we seen a top in the S&P index? This short video shows some analysis that indicates we may potentially be going to see a correction in this index.
Watch this video and see if you will agree with the arguments in regards to this market.

By watching the video, you’ll also learn more about the following:
* Trend line
* Fibonacci Retracement
* MACD Divergences

Although I posted this video a bit late, I’m sure you can still learn something from this due to its rich educational values in technical analysis. Happy watching! =)

Related Topics:
* Free Trading Educational Video: Learn Technical Tips from Dan Gramza
* Learning Candlestick Charts
* Learning Charts Patterns
* Understanding Implied Volatility (IV)
* Understanding Option Greeks
* Understanding Option’s Time Value

Analysis Tool:
Get Free Trend Analysis for your favorite symbols

Market Analysis Video: Is the NASDAQ Now in Thin Air?

The major indexes have made some interesting moves lately, but the NASDAQ is currently at an interesting spot, as pointed out in this new video.

The video would give you some examples about Bearish Engulfing candlestick, Fibonacci Retracement and MACD Divergences. See how it can help you sharpen your technical analysis skills.
Happy watching. :)

Related Topics:
* Free Trading Educational Video: Learn Technical Tips from Dan Gramza
* Learning Candlestick Charts
* Learning Charts Patterns

Analysis Tool:
Get Free Trend Analysis for your favorite symbols

TRIPLE BOTTOM PATTERN – Part 1: Formation

Triple Bottom Pattern is a bullish reversal pattern that normally forms after an extended downtrend, which marks a shift in trend from bearish to bullish.

The Formation of Triple Bottom Pattern



Triple Bottom Pattern contains three consecutive, distinct & sharp bottoms at about the same price level, with two moderate peaks in between the bottoms, followed by a breakout through a resistance.
This pattern forms when the price is in an existing downtrend. It occurs when the price drops to a support level (forming the 1st bottom), then increases (forming the 1st trough), and then return to the support level (forming the 2nd bottom), then increase again (forming the 2nd trough), and then drop back to the resistance level again (forming the 3rd bottom), before subsequently increase further.

Although the price bottoms do not necessarily need to be exactly the same, but it should appear near the same price level.

The pattern is completed and confirmed when the price increases and closes above the highest high of the two peaks, which serves as the key resistance level in this pattern. This highest high point is called the “Confirmation Point”.

This pattern occurs because the sellers attempt to push the price lower, but are not able to do so as they are facing support, which prevents the continuation of the downtrend. After three failed attempts, the sellers in the market exhausted and gave up, and the buyers begin to be more aggressive to take control of the market and drive the price higher, pushing it up into a new uptrend.

To be continued to Part 2: Important Characteristics of Triple Bottom pattern.

To find out more about other Chart Patterns, please refer to:
Learning Charts Patterns

Related Topics:
* Free Trading Educational Video: Learn Technical Tips from Dan Gramza
* Learning Candlestick Charts
* Options Trading Basic – Part 1
* Options Trading Basic – Part 2
* Understanding Option Greek
* Understanding Implied Volatility (IV)
* Understanding Option’s Time Value

Analysis Tool:
Get Free Trend Analysis for your favorite symbols

Trading Quotes from “Way of Turtle” by Curtis Faith – Part 2

Go back to Part 1.

Some more good trading quotes from "Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders" by Curtis Faith.

Don’t spent all your time admiring the fancy tools in the magazine.
First learn how to use the basic ones well. It’s not the size of your tools that counts but how you use them.

Keep it simple. Simple time-tested methods that are well executed will beat fancy complicated method every time.

Trading with poor methods is like learning to juggle while standing in a rowboat during the storm. Sure, it can be done, but it is much easier to juggle when one is standing on a solid ground.

Trading is not a sprint; it is boxing. The market will beat you up, screw with your head, and do anything it can to defeat you. But when the bell sounds at the end of the twelfth round, you must be standing in the ring in order to win.

The market does not care how you feel. It will not prop up your ego or console you when you are down.
Therefore, trading is not for everyone. If you are unwilling to face the truth about the markets and the truth about your own limitations, fears and failures, you will not succeed.

I always say that you could publish my trading rules in the newspaper and no one will follow them.
The key is consistency and discipline. Almost anybody can make up a list of rules that are 80% as good as what we taught our people. What they couldn’t do is give them the confidence to stick with those rules even when things are going bad.
(By Richard Dennis, quoted in 'Market Wizard' by Jack D. Schwager)

Related Topics:
* Free Trading Educational Video: Learn Technical Tips from Dan Gramza
* Option Greek
* Understanding Implied Volatility (IV)
* Understanding Option’s Time Value
* Learning Candlestick Charts
* Learning Charts Patterns