This week’s analysis suggests continued caution for new trades, keeping stop-loss orders in place, and taking profits sooner – especially when price increases start slowing down on open positions.
The downtrend continues, here are some signs to identify safer market conditions for buying stocks.
All 3 major indexes ETFs the DIA, SPY, and QQQ continued their downward move this week and again on increasing volume.
Despite the occasional rocketing higher on daily charts, the overall trend is still down.
Big institutions show their conviction to the market by leaving evidence on stock charts.
Increasing volume on up days shows bullish conviction, increasing volume on down days shows bearish conviction.
For less risk in your trading, you should follow the big money.
Notice I didn’t say “smart” money because no one really knows what’s going to happen.
Watch this video to be aware of evidence to indicate which price direction is more likely in the future.
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Comments are always welcome.
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