U.S. stocks plunged on Tuesday, selling off into the close, after Treasury Secretary Timothy Geithner's "Financial Stability Plan" failed to impress the markets and left many questions unanswered as to how the plan will deal with the toxic assets on the balance sheets of the biggest banks in the U.S.
Dow Jones Industrial Average
lost 4.6%, the
dropped 4.9% and the
The ever-changing game on Wall Street is forcing many investors to adapt and find new approaches to making money in these turbulent times. One way you can eliminate the noise and avoid the market drama is with the use of technical analysis.
Technical analysis combines many different methods like trend lines, trading channels, resistance and support levels and volume to help determine future stock price movements.
Technical analysis is not an exact science. However, the discipline of studying charts can be helpful in eliminating emotions from the investing process as investors attempt to determine the true supply and demand of a stock.
One of the key beliefs of technical analysis is to trade with the trend. With that in mind, let's take a look at four charts that, from a technical view, could be setting up to trend higher or lower according to their chart patterns (including
Energy Conversion Devices
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