I found this technical analysis from INO of the Dow Jones and S&P 500 indexes. Although I don’t really believe that technical analysis is everything that it is cracked up to be, I wanted to share this video with you.
Does this video really tell you where the market is going?
Hedge fund managers have one advantage over individual traders: they’re paid to trade. That’s not always the case for most traders, who have jobs (often full-time) to bring in money for their day-to-day living expenses, as well as save money for their trading activities.
With all that time, hedge fund managers can research and monitor the market. With all that money, they can hire people to research and monitor the market for them, while they play a few rounds of golf and shop for art.
For the individual trader, things are different. Many strategies that suit their lifestyle, won’t fit their dreams. Buy-and-hold is too slow and day-trading (without the ability to constantly manage the trades) can be too risky.
However, individual traders can use trend following strategies to compensate and compete with hedge fund managers.
It’s taken me a few years to realize that Fibonacci isn’t some type of pasta dish.
According to Wikipedia:
“In the Fibonacci sequence of numbers, each number is the sum of the previous two numbers, starting with 0 and 1. Thus the sequence begins 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610 etc.”
The Fibonacci sequence was also the basis of many Renaissance artworks where it was better known as the golden ratio.
A lot of investors believe that Fibonacci calculations can give you insights into stock market movements. Proponents say that patterns underlie everything in the universe–from the shape of shells to the position of your nose… even the highs and lows of the stock market.
I guess the important thing is: what do Fibonacci numbers say about the near term future?
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