See all in the stock market!
Ever get lost on a road trip because you thought you didn't need a map? Well 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! So does stockwatch.com. Both provide clarity that other charts services don't have.
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 below for maximum clarity.
Go to stockcharts.com: Enter a market average symbol in the stockcharts home page. Try a markets average like Nasdaq as it is the most representative equity market average. The symbol is $compq. For the Canadian market you can use $tsx.
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).