Once you've decided that you are going to take control of your own stock market investing, the first thing you need to do each and every day is ask yourself what happened in the stock market today. I usually do this at the end of the day after Investor's Business Daily comes out with their eIBD edition.
The first thing I do is check each of the market indexes to see what happened today. Here's a summary of today's market action.
- The S&P 500 Index closed higher today on lower volume than the day before.
- The New York Stock Exchange closed lower on lower volume than the day before.
- The NASDAQ closed marginally higher on lower volume.
In this kind of day, the market action showed no change in course from the current status of market uptrend under pressure. It didn't amount to a distribution day according to IBD.
This information on what happened today is easily found at Investors.com at the top of their website and includes stock charts for each index and how it closed today.
In addition, you can watch IBDTv to get a more complete picture of today's market action. The key to understanding what's happening in the market each day is volume compared to the previous day. If it is lower than the previous day, then their isn't any buying or selling pressure on the market indexes. However, if the market index closes higher or lower on higher volume, these are clues as to whether the big investors are buying shares of stocks for their holding or selling them.
Each and every day, get a feel for what happened in the stock market today.
EmoticonEmoticon