While the run that we have seen in the markets has been historically impressive, there is a major road-block that likes ahead for the NASDAQ simply by looking at the weekly chart. Using weekly charts is very important with technical analysis. It allows you to get a feel for the long term trends that are going on in the market, and the support & resistance levels are much stronger and legit then what you get from daily and intra-day charts.
But as you can see by looking at this chart, the NASDAQ is facing some major overhead resistance, that could be the grounds for an excellent short set-up if you dare. So far, it has spent about a month trying to break through this critical resistance level to no avail. So a break-down at this point, could be ominous of a much bigger market sell-off to come.
Welcome to Swing Trading the Stock Market Podcast!
I want you to become a better trader, and you know what? You absolutely can!
Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
#3: Do #1 & #2 and the profits will take care of themselves.
That’s right, successful swing-trading is about managing the risk, and with Swing Trading the Stock Market podcast, I encourage you to email me (ryan@shareplanner.com) your questions, and there’s a good chance I’ll make a future podcast out of your stock market related question.
How does war impact the stock market and what are the potential risks and hazards that impact traders attempting to remain profitable in their swing trading? In this podcast episode, Ryan Mallory covers everything managing the volatility that comes with the headline risk, dealing with heightened levels of emotions, securing open profits, and market exposure to uncertainty in the stock market.
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