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Advanced Technical Analysis of ETFs: Strategies and Market Psychology for Serious Traders by Michael Sincere, Edward Balog, Deron Wagner

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Chapter 9

Understanding the Four Stages of Every Market Cycle

Understanding the four stages of every market cycle is critical to trading since it’s the only thing that keeps you in the direction of the trend. If you are unaware of what stage the market is likely in, you will end up fighting the market (group) at your own expense. Further, understanding the market stages is understanding market timing. Each stage provides subtle signs as to its identity.

If you are not aware of these signs or don’t know what to look for, it is much more likely that you will be trading on the wrong side of the trend or overtrading, and the four powerful psychological emotions we discussed will wreak havoc on your results. Since poor trading is often a result of ...

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