Monday, 31 August 2015

Top Tweets Today: 31/08/2015

Although big manly beards may be outdated on Wall Street these days doesn't stop the odd fan from showing their admiration to the good man. Judgements aside, the Dow Theory is still one of the most used technical indicators today coupled with the famous Dow Jones Industrial Average tracking the 30 largest industrial companies listed on the New York Stock Exchange. It's safe to say that Dow has should the test of time


I was venturing through twitter land today and stumbled upon an interesting trading handle; @edgewonk . I really found this summation of the differences between amateur and professional quite cool so I thought I'd stick it up to highlight some important differences. Let me say that for any trader starting out I believe a list like this should help you set up goals for yourself to reach with a continually push. Websites like these should be applauded for keeping with the spirit of true trading and emphasising the need to keep risk & emotions under control at all times plus having fun.


I thought this picture to be appropriate with what's going on in the market at present as the bounce which was expected has now materialised but technical damage being left behind. If unnoticed this mirage has the ability to suck in the greedy and fool the rest. What is to come from the damaged state of these pattern is yet to be seen only time will tell.

  All things good things must come to an end and alas a 5 year uptrend on the S&P 500 has finally taken it's bow and broken support. This uptrend was significant for trend followers who have now been chased to the sidelines as the shock of it all has left many waiting for indications as to when a new one might start up. Attention must be given to when longer term charts such as these break important areas as they signal change in conditions.
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