This Thursday, we take a look at social media stocks which are showing some very different setups on each chart. The EMA (50) is the main upper indicator to keep an eye on into Friday as this is acting as crucial resistance and support on the Facebook, Twitter, and Snapchat charts.
Imagine trying to drive across the United States using individual state maps. You might find the best route through each state, but without seeing how everything connects, you probably wouldn’t take the optimal route to your destination.
Traders rely on trend lines, chart patterns, and technical indicators to make decisions, but individual timeframes don’t provide the complete picture. For example, there may be a long-term support trend line that doesn’t appear significant on a short-term chart. The failure to consider more than one timeframe is one of the most common mistakes made by novice traders—there isn’t enough context in a single chart to make decisions.
Let’s take a look at how to use multiple timeframes to improve your trading, and see an example of multiple timeframe analysis in action.
A prepared trader is a generally a profitable trader, and Sunday is a great day to get ready for the week ahead by studying up from last week’s price action. In this weekend’s analysis, we take a look at the broad markets after continued moves to the upside, with SPY, QQQ, and XBI all closing at or near the longer-term 20-week simple moving average resistance. As the market has not been phased by the government shutdown, the weekly SMA (20) is the only “wall” the market needs to pay attention to.
TrendSpider is happy to announce S/R heatmaps are available once again on the platform with the ability to choose between Horizontal, Depth, and Trends preferences. To learn more about the new location of this feature on the chart and how to choose between the three, click to continue reading!
Government shutdowns have a significant impact on federal employees, government contractors, and many companies relying on government services. Most shutdowns are resolved within a few days and there’s little impact, but in some cases, shutdowns have lasted more than two weeks. These longer stalemates have become increasingly common since the 1990s with shutdowns during Clinton, Obama, and Trump’s administrations.
Let’s take a look at the impact of government shutdowns on businesses and how the three longest shutdowns have affected stock market returns.