Wednesday, March 14, 2012

The Daily Note - Market Leader Charts

I am at times contradictory to other's point of view just because I tend to look for historical points that the markets retrace in more obscure places. So where others may follow the S&P 500 (SPX) I look for strength in indexes more specific. Nearly 3 years ago I switched from watching the S&P500 (SPX) to the Dow Jones Industrial Average (DJIA) because in my view it was the leader. Late November of last year, I switched to the (NDX) Nasdaq 100 because it became in my view the new leader of the current markets.

My favorite way to look at a chart is what I've been calling as "Naked" which means that the chart has no indicators marked, only candlesticks. It is because I feel it is more clear, as ones eyes get trained, rather than opaqued by indicators. That does not mean that I reject indicators nor do I pretend to know it all, it just means that I follow my own thoughts before I check others. It is in this way that I can rely and trust my own "design" and more easily spot mistakes.

I post my charts to share the vision I have of the markets and my purpose in posting is achieved if it gets you involved in looking at another point of view. Whether you agree or disagree with the charts I hope it helps as another "tool" for your trades. Besides the charts posted on my site here below, you will find my charts on links posted in the left column under "Follow Me On".

Learnalilgivinanlovin' by Gotye on Grooveshark

Happy Trading, Living and Dancing

The Daily Pick - NDX

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