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The formation is upside down and the volume pattern is different from a head and shoulder top. Prices move up from first low with increase volume up to a level to complete the left shoulder formation and then fall down to a new low. A recovery move follows that is marked by somewhat more volume than seen before to complete the head formation.
Keltner channel example. Keltner channel is a technical analysis indicator showing a central moving average line plus channel lines at a distance above and below. The indicator is named after Chester W. Keltner (1909–1998) who described it in his 1960 book How To Make Money in Commodities.
The pole is formed by a line which represents the primary trend in the market. The pattern, which could be bullish or bearish, is seen as the market potentially just taking a "breather" after a big move before continuing its primary trend. [3] [4] The chart below illustrates a bull flag. A bear flag would trend in the opposite direction.
Wilder further believed that divergence between RSI and price action is a very strong indication that a market turning point is imminent. Bearish divergence occurs when price makes a new high but the RSI makes a lower high, thus failing to confirm. Bullish divergence occurs when price makes a new low but RSI makes a higher low. [1]: 68
In the late 1990s, there was a string of incredibly strong years, not unlike 2019-2021 and now again in 2023-2024. The average return still nets out to a positive gain of 3.9% the following year.
Volume Analysis (also referred to as price–volume trend and volume oscillators) is an example of a type of technical analysis that examines the volume of traded securities to confirm and predict price trends.
More evidence that the Fed is cutting rates amid this ideal backdrop would be a bullish outcome for equities, per Citi's Kaiser. But the data this week still poses a large risk to that narrative.
Economic Expansion and Recessions. Although economic expansion isn’t necessarily a prerequisite for a bull market, and recessions don’t always follow bear markets, the two tend to go hand in hand.