The charts provided on the following pages reflect the actual broadcast and daily updated recordings of the various indices as measured by the S & P 500 Index, the S & P 100 index, the Nasdaq composite and so forth. Stock market trading without a working knowledge of technical analysis of charts is not prudently recommended simply because most of the major traders use this analysis to gage their buy and selling behavior. It is logically hard to comprehed often, but chart patterns more often than not are repeated and certain types of future maket action can be postulated with a high degree of accuracy given a basic understanding of technical analysis. It would encompass much more than the space provided here to go into detail of how charts are read but a basic understanding of Japanese candlestick patterns , volume price relationships, trend line patterns, head and shoulder reversals, pennants, double bottoms and so on and so on is the key to reading the markets. Their is no magic in chart reading it just takes time and experience. A good place to start is to pick up a book wriiten by John Murphy (the master of modern technical analysis). One book I reccomend which is written by him is called "Intermarket Technical Analysis". Upon completion of this book your understanding of the markets will increase immensly.
Happy trading and remember that the data provide herein is by no means regarded as any particular recommendation to either enter or exit a certain position. It is only meant to be informative and also it is understood that futures and options trading is extreemely risky and it is possible to lose your entire investment.
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