Well studying is the best thing to do on off days. Keeping your analysis fresh and up to date is crucial when dealing with this type of market environment. There are many bulls out there that would like to see this market continue to rally, but I believe that the analysis provided by Elliott Wave International is MUCH more accurate! Here is a great read for the day off...
Five Fatal Flaws of Trading
By Elliott Wave International
While there is no magic formula, EWI Senior Instructor Jeffrey Kennedy has identified five fundamental flaws that, in his opinion, stop most traders from being consistently successful. Read More.
Oh.. and take advantage of the Super Free Resources that Elliott Wave International has to offer. It truly is the best FREE stock market analysis. You can sign up by clicking on the banner ad, the EWI ad to the left, or the link for the article above. There are MANY FREE e-books and other tools to help you in your financial journey. There are also paid subscriptions that WILL make you a better investor and trader, hands down, no contest! Now...
There is no trading today, but I have posted the probable wave count. All in all, the general direction is DOWN. I can not stress enough how one should be protecting their investments right now! If we all thought we lost money in 2008, then wait until the end of this 3rd wave down. The prices are projected to FALL BELOW THE 2008 LOWS! This is very serious to me because I would like to inform and help as many people as possible before financial situations turn very utterly grim.
I trade and invest by letting the market work for me. I suggest you do the same. A lot of the initial reading one should do prior to getting their hands dirty with the markets is at Why Choose the Wave Principle? This will give you the basic information to truly understand why the markets operate the way they do. Don't be afraid to take advantage of ALL the FREE resources that EWI has to offer. I can't stress that enough because it is a plethora of information that will get you on your way to MAKING BIG MONEY off of "BIG MONEY PLAYERS."
I keep reiterating "BIG MONEY PLAYERS" only because these are the hedge fund managers, mutual fund managers, and every other money manager that controls huge sums of cash for profit. There goal is to make as much money as possible, but they cannot do that as efficiently and effectively with a lot of cash. WE CAN THOUGH!
We as individual traders can use PROFESSIONAL ANALYSIS like Elliott Wave from Elliott Wave International. This analysis tracks the social movements of money managers represented by what they do with their cash under management. Crucial turning points and trends CAN BE identified, and they can be identified using Elliott Waves. Again, sign up for EWI's FREE account for GREAT FREE reads and get more informed on the basics of Elliott Wave.
The Elliott Wave Principle WILL CHANGE the way you Invest or Trade for the better, Guaranteed! I can say this because it is the only mode of analysis that gives one an objective view point of the markets, THE ONLY!