In this month’s “Stay in Step with the Market,” Scott St. Clair and Irusha Peiris focused on the importance of viewing the weekly chart first, before the daily chart.


When William O’Neil founded DailyGraphs Online in 1998, the layout of the weekly chart was the product’s essential feature.  It put all the fundamental and technical data points essential to assessing a stock in a single view. MarketSmith has improved on DailyGraphs in a number of ways, but the importance of the weekly chart remains unchanged.


As discussed in the webinar, best practice is to examine the weekly chart first, before moving on to the daily. It reduces the noise and volatility seen in the daily chart, so you can gain a better perspective on the stock’s performance over the long term.  There is also some fundamental information exclusive to the weekly chart, such as a eight quarters of earnings and sales history, which is important to assess before adding a stock to your watch list. The team then recommends switching to the daily chart to fine-tune your entry—with the assistance of our premium Pattern Recognition feature, if you choose. A good general rule is to read the daily chart to buy stocks, and the weekly chart to hold them.


To learn more about the importance of the weekly chart, watch this month’s Stay in Step webinar, which is available in our archive.


As always, if you have any questions, you can reach us at (800) 424-9033 or at reachus@marketsmith.com.


 

Best returns,


The MarketSmith Team