Using the Market Forecast Tool for Short-Term Stock Trades | Getting Started with Technical Analysis

Getting Started with Technical Analysis | Cameron May | 1-16-24

In this video, we provide an introduction to the Market Forecast indicator on thinkorswim, and we use example charts to explore how a trader might employ the Market Forecast in planning a short-term stock trade.

Now that you have a toolbox full of technical analysis techniques and principles, it’s time to put it all together. In this final episode, learn how to create a sample investing plan to illustrate how self-directed investors might customize a technical approach to managing their investment portfolio, trading specific strategies, and practicing a daily routine.
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Options involve risks and are not suitable for all investors. Please read the Characteristics and Risks of Standardized Options carefully before trading.

#CameronMay #TraderTalks #SchwabCoaching

[roc]

Often after I ponder something, in this case, The Market Forecast indicator, Trader Talks presents a lesson that addresses the issue. And, as is your style, the lecture is most informative and the erudition is tops! Thank you, Cameron May, for the hard work that goes into making this lecture!

[edlee]

If all 3 lines cross above 80 is that also a potential sign to sell

[FLBeachBean]

Hi Cameron - Great Video! Interesting indicator. Can you scan stocks for a market forecast scenarios?

[mikegregory]

Great webcast Cameron. I plan to include this MarketForecast indicator into my analysis. Thank you!

[DaleFawkes]

You are a great presenter and go at a nice speed for us beginners. Thank you very much

[BrianWerner]

Is this best used with the 1 day 1 year chart? Google just showed up with all 3 lines below 20 on March 6th, but if I switch to different time frames then the 3 lines are no longer below 20.

[khurshidkhan]

What time on Tuesdays is your webcast? I can attend if it after 6:00PM Eastern time, otherwise I will look for it later.

[khurshidkhan]

Where can I find a listing of stocks that offer daily Option. The only one I use is SPX.

[redfern]

great presentation. can i set up an "alarm" that send me a txt when it hit a cluster ?

[vivianwagner]

Ken Rose wrote an excellent study to mark the clusters when all three are below 20 and when intermediate goes above 20 .
He also suggests when green line above 80 on spx then consider overall market is Bull.

[peterkoval]

Would have been nice to hear more about the significance of the 20 line, and why don't they add the line option, so you don't have to draw it in?

[jldavid]

Your TSLA example shows the danger of using this indicator just before earnings. That stop loss order would have been filled at about 190 resulting in a 30 point loss rather than a 16 point loss. It's probably best to use options if entering based on this signal if close to an earnings announcement.

[zlatkohabibovic]

Hey Cameron, love the study, wondering if that horizontal line 20 can be as an default, which means if I change the symbol that 20 is there that I don't need to plot again?! I tried everything but seems to me if I change the symbol every and each time I need to enter 20 line level !!! Please help me with that !!

[JC-mgmr]

Great presentation and have used it a couple of times to buy, Comcast, STT, GILD and I shall see how it works out. I think it is a great tool to give you some investing timing on stocks you want to own. I am wondering if there is a way to set the program to identify the cluster formation in a given set of stocks.

[BT-wnok]

Which time frames would be best for this indicator ? Thanks.

[bobcurran]

Cameron, i am on street edge now and iam able to have 3 screens open from edge, , 1-positions--1-options -another showing hi volume poppers, how do i set that or duplicate that on TOS-i micro scalp SPY, with calls speed is important. may do 50-100 trades in hour..ty

[TraderDee]

Can the dashed line drawn at 20 be saved as a default, so that the line does not have to redrawn each time a new ticker is entered?

[pravinmistry]

Excellent presentation nicely articulated! I was wondering if this indicator can be used for selling (like over bought condition) when the cluster occurs above 80?

[jerzeyskboarder]

Has this indicator been backtested? If so where can I see the info thanks

[salpriorello]

Cameron,
When I added this study and followed along through the video, initially my momentum line was green and intermediate line was red. I changed them, but why would my settings present them incorrectly? My concern is other studies I add may also have the wrong colors when I initially add them.
Thanks!