New Blog Series: FREE Daily Trend Reports.
Today’s Coverage Items Include 4 Major US Stock Indices & 13 Popular High-Volume Stocks
By Sid Norris, Elliott Wave Plus
Every market participant should be aware of the current trend direction of the major stock market indices, as well as every individual stock, commodity, currency or bond issue they are are trading. Here at Elliott Wave Plus, we realize that many market participants may not have access to sophisticated charting platforms that can clearly indicate this very important information. So today we are starting a new series of regular blog posts that will provide important daily trend information on many items of major interest.
We will start this new blog post series today with daily trend charts on the four most popular US stock market indices, as well as thirteen popular high-volume stocks. We have included stocks from several different sectors. As this new series of regular blog posts evolves, based on feedback from our email subscribers, we will settle on a regular list of covered issues, and will post every weekday.
Each DMI-indicator-based trend chart will include our on-chart notes such as the current daily trend direction (MACD zero-line crossovers), the most recent trend-template buy or sell signal, and whether that signal was strong (with the trend) or weak (against the trend or during a trend-less condition). Additional on-chart commentary may include the current position of price related to the ATR Volatility Stop indicator (the thin blue line), and other details we find pertinent, including manually drawn R.N. Elliott trend channels, and potentially imminent trend-channel breaks.
Why is knowing the current trend (or lack of trend) so important? Because expert traders almost universally agree that trading “with the trend” is a more profitable strategy than trying to catch the bottom or top tick of a price swing. This is especially important in the current market environment, where, due to the proliferation of trend-following algos, some trends extend well past the most common Fibonacci price targets before reversing. Waiting for the market to show clear, indicator-based evidence that a trend change has occurred is more important now than ever.
Below are the promised charts associated with this inaugural “Daily Trend Report” edition. Covered items are DJIA, SPX, NDX, RUT, APPL, AMZN, BA, DIS, FB, GOOGL, JPM, MSFT, NFLX, PFE, TSLA, UNH, & WMT. Click on each chart to enlarge. We hope this new blog series will be of major ongoing benefit to our entire email database of subscribers. To make sure you are subscribed to receive email notification as soon as we make new blog posts, be sure to fill in the pop up “Subscribe to our Newsletter” form you’ll see within a few seconds of visiting our blog site.
About Elliott Wave Plus:
Timing is everything! No system is perfect, but considering our Elliott Wave & Hurst Cycle analysis in conjunction with these algorithmic trend-following trade signals can help traders decide when to get in and get out. Recent volatility in the market is leaving many people wondering what’s next. Future Elliot Wave road maps and trend-following trade signals can aid in navigating these rough waters. As always, please check out our free resources at the site.
We offer a number of subscription levels. Some are mostly about future roadmaps based on a combination of Elliott Wave and Hurst Cycles, and others are based on automated algorithmic trade signals. Sid presents his Elliott wave counts, which include integrated Hurst cycle analysis on over one hundred trade-able items for subscribers (Basic Plan & up) every weekend. He sends out updates on the most popular of those items every Wednesday. Crypto and Premium Plan subscribers receive automated momentum-algo trade signals nightly, as described in prior blog posts. Sid’s unique approach is well worth considering, especially if you’ve never experienced wave labeling and associated Fibonacci price targets that are derived in harmony with independent Hurst cycle analysis. Here’s more info about subscribing.
Be sure to subscribe at our YouTube channel. Look for an announcement soon regarding our new regular podcasts.
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