Support and resistance lines are incredibly important because they show you where the buyers and sellers are waiting.
When an investment hits a long-term support line, that’s an emotional price that investors remember and show up again and again to buy more of the investment. And…
…if investors don’t show up to buy more shares then it’s very likely that investment falls until its next major support line.
When an investment hits a long-term resistance line, that’s an emotional price that investors remember and show up again and again to sell the shares they have left. And…
…if investors don’t show up to sell more shares then that investment is very likely to scream higher.
So the question I ask myself when I look at a stock, index, ETF or Bond is…where are those support and resistance lines
I want to show you four major support lines that are defining the market today. These are the four most important support lines in the investment world today.
This weekend’s podcast is a bit different.
The link right here will take you to the recording of the podcast, BUT it has no images. It’s only audio. Sorry guys. I’m here in Ohio at a funeral and things just aren’t going my way today.
I also included a PDF of the entire podcast, which for some of you might be better. In about 30 seconds you can see everything I want to show you this week. And if you want to hear me talk about it just listen to the Youtube video.
The audio is right here.
The PDF attachment can be found at the top of this email.