Use Fibonaccis for peace of mind.
posted in: Fibonacci, Technical Chart Analysis | 0
Here’s a recent example of of how I use technical analysis to make a quick assessment of an investments chart. An online friend of mine that works for a large investment bank asked me on June 20th, 2013 what direction I thought the market was going to take, since the markets, in general, had been retreating over the previous several days. Not wanting to do a whole lot of fundamental research on the matter, I quickly pulled up the one year chart of the QQQ Powershares Trust, which pretty much mimics the Nasdaq. Most charts won’t initially look like this, … Continued