When price break through an identified level of support or resistance, it is usually followed by heavy volume and increased volatility. This is a most important signal for swing traders, regardless of which side they pick.
Our algorithms identify support and resistance levels of thousands of actively traded stocks and ETFs, and keep track of their price movements. Hopefully they save you from checking ticker by ticker everyday.
Do not use the words “Bullish” or “Bearish.” These words fix a firm market-direction in the mind for an extended period of time. Instead, use “Upward Trend” and “Downward Trend” when asked the direction you think the market is headed. Simply say: “The line of least resistance is either upward or downward at this time.” Remember, don’t fight the tape!Jesse Livermore