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The Importance of Weekly Charts
The Market Navigator remains in a Power Trend as the Nasdaq remains above the key 21 and 50 day moving averages.
The exposure count is at it’s highest possible level, 7.
The distribution day count increased by 1 this week to 4.
Jesse Livermore, one of the greatest traders of all time said, "the big money was not in the individual fluctuations but in the main movements." This quote perfectly captures the essence of why weekly charts matter. While intraday and daily charts have their place in trading, weekly charts tend to smooth out the small, often insignificant fluctuations and give traders a less distorted view of a stock's price movement.
In this weeks video I review why I always start my analysis with weekly charts and go bar by bar through IOT 0.00%↑ ’s recent price action.
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The content presented is for informational and educational purposes only. Nothing contained in this newsletter should be construed as financial advice or a recommendation to buy or sell any security. Please do your own due diligence or contact a licensed financial advisor as participating in the financial markets involves risk.