How to figure out the stock market!
2 minutes read time
Ever get lost on a road trip because you thought you didn't need a map? Well "here's something, here's something", a map for the stock market!
What exactly does a map in the stock market look like? It's a (price) chart and charts are not only how you see the road the market has taken but they provide great insights on where it is going next.
There are hundreds of websites providing free and premium services but in our experience there is one that stands out. Stockcharts.com wins the Cup! Other websites charts just don't have the clarity.
To get started with stockcharts.com make some modifications to their default chart settings. Once you have the settings established reload (by clicking permalink just under the chart) and reload with link. Then bookmark the saved settings so it is available permanently on your device. Use the settings set up step by step shown below.
Stockcharts settings
Go to stockcharts.com:
Enter a market average symbol in the stockcharts home page. Try the Nasdaq as it is the most representative equity market average, but you decide. The symbol is $compq for the Nasdaq in stockcharts. For the Canadian market you can use $tsx.
Click Go.
Under the chart make the following modifications.
Scroll down to Indicators and click Clear All - Ok.
Under Overlays click Clear All - Ok.
One more step. Scroll down under the chart again to the first section called Chart Attributes. Here are the changes to make. For each parameter open it by clicking on the arrow.
Type - HLC bars
Volume - Separate
Color scheme - Murphy. The page will reload after you set the color scheme).
Save it!
Now you click on permalink which is right under the chart. When the window opens click reload with link and bookmark that page in your internet browser. This sets you up easily for efficient review.
Get ready for know everything about the markets. The Crave Investor research builds lists of key stocks and market E.T.F.s. It's available to subscribers and on special request.
