Well the way this trader looks at it, any market is either going up, down or sideways. Then you have different time frames where they can go in two directions or more at the same time. But usually the bigger time frame wins. And the markets seem to stop at old highs and lows, support and resistance. And they form trendlines which get broken. If that is T/A so be it. I just want to be on the right side of the market, buying strength and selling weakness. I've had someone tell me there's no such thing as a trend. At first it made me angry because its so obvious. But he was a good investor at an insurance company, so it made me think. I believe he couldn't measure it, so it didn't exist for him. Anyway a trend is a trend only in hindsight. All we do is get on and believe it will continue, then get out if it doesn't or just ride it. LBR used to say the surfurs were the best traders on the Pacific exchange.--Swimr
Oh yes I forgot. There's I don't know as well. You probably won't find that in your T/A textbook. Up, down, sideways, and I have no idea. The latter seems to be verboten thinking amongst the experts. Rarely do you hear the reply, "I really don't know" on CNBC. You won't be invited back.