http://finz.tv Beginners' guide to technical analysis, with host Zachary Musso, a.k.a. ZMoose. Technical analysis is understanding the mechanics of the market to know how the market works and what it will do. Like the mechanics of a car, understanding the mechanics of the market is learning how the different parts work together to make the market move one way or another.
Now why do these patterns happen with the price of a stock? The market does what Big money wants to do. Mutual funds, pension funds, hedge funds, big banks like JP Morgan Chase, and yes, even countries! They are the ocean and they make the motion, we're just along for the ride.
SUPPORT: a price level that the stock tried to cross below, but ultimately stayed above.
Example: Ever try bidding for hot concert tickets, you low ball your bid tryin to get lucky, and it doesn't work! Someone always outbids you because they're willing to pay up for it! That's whats happening here. Someone with a lot more money than you wants Goldman ...
