Where's the Stock Market Going?

 I have been focusing mainly on the validity of trend lines so far with my Blog and it's for a reason! The reason is that they are so crucial to making investment decisions. This chart above is of the Dow Jones Industrial Average. This is a short term chart of the last 60 days of trading. I have updated the current up channel we are in. As you can see, there are channels within channels. This is partly the value behind trend lines. Simply enough, many trade ideas, long and short term can be made by calculated trend line breakouts. I have found that in the longer the time frames, the tendencies of accuracy increase. Most trend lines abide depending on the current volatility. This strategy alone has been the cause for great trades because the force that comes with a trend line break is generally great!

Wednesday's trading day should determine whether the Dow Jones Industrial will keep it's head above the older "SUPER BULLISH TRIANGLE" (as the WSJ put it) trend support that it's been flirting with since late November.

I haven't put up an Elliott Wave count of the shorter term 60 day chart, however, I do have a simple look into what the market is working up towards, a higher corrective wave C. There are also some great bits of information on the charts that may open your mind to technical analysis. I would be selling as the stock markets advance. I will post targets for the top of wave C in days to come. You can certainly see where the trend line resistance is though. 

All of the open markets represent all of the available information that is current with a current share price for any index or individual stock. With this being said, I subscribe to the Elliott Wave Principle. I haven't touched on Elliott Wave Principle too much because for any background on the topic, I would refer ALL to ElliottWave.com. The purpose of this site is to give people a more basic understanding of the topic. I am going to spread the word that good trading and investing doesn't have to be such a mind rattling task. The Elliott Wave Principle will tell one where any market is at any given time. This information will give the person receiving a SERIOUS upper hand relative to others. Trades and investments can be made with confidence, no guess work involved.

Soon I will be displaying hypothetical trades for a shorter and long term portfolio. I know the Elliott Wave analysis forecasts that the market will finish correcting higher then resume its larger degree trend of down. I will also let everyone into the secrets of forecasting target highs and lows. This method involves using Fibonacci numbers. The charts that I will display in days to come will truly tell you how mathematical and technical the stock market really is. Using the information on this site can give one a serious trading or investing edge over their peers and their mutual fund managers.