Market Education · Section 03
Market Overview
What the whole market is doing, and how to tell: indexes, participation, volatility, leadership, tone, and what is driving the session.
22 lessons · 6 topics
- Education
- Market Education
- Market Overview
Market OverviewOverviewMajor IndexesThe handful of numbers people mean when they say 'the market' — and what each one leaves out.
Market OverviewOverviewMarket BreadthHow many stocks are actually participating. An index can rise while most of its members fall.
Market OverviewOverviewVolatilityHow much prices move, how it is measured, and why it changes the way you should size and trade.
Market OverviewOverviewLeadership / WeaknessWhich groups are pulling the market up or dragging it down, and why rotation matters.
Market OverviewOverviewRisk-On vs Risk-Off ToneThe market's appetite for risk, read through what is being bought and what is being sold.
Market OverviewOverviewWhat Is Driving the SessionEarnings, data, rates, news, positioning — how to find the reason behind today's move without guessing.Series · 9 lessons
Inside Volatility
How much prices move, how it is measured, and why it changes the way you should size and trade.
Read the overview ›
VolatilityLesson 2Historical VolatilityWhat prices actually did — measured backward.
VolatilityLesson 3Implied VolatilityWhat the options market expects prices to do — measured forward.
VolatilityLesson 4The VIXThe index of expected S&P 500 volatility, and what its level actually says.
VolatilityLesson 5Volatility ExpansionWhen quiet markets wake up — and why it rarely happens politely.
VolatilityLesson 6Volatility ContractionTightening ranges, shrinking candles, and what usually follows.
VolatilityLesson 7Volatility Around EarningsWhy a stock's options get expensive before a report and cheap after.
VolatilityLesson 8Volatility and Position SizingThe same dollar risk means different share counts in calm and wild markets.
VolatilityLesson 9Volatility vs VolumeTwo words that sound alike and measure different things.Series · 9 lessons
Inside Leadership / Weakness
Which groups are pulling the market up or dragging it down, and why rotation matters.
Read the overview ›
Leadership / WeaknessLesson 2Sector LeadershipWhich of the eleven sectors is carrying the market.
Leadership / WeaknessLesson 3Industry LeadershipInside a sector, which industries are doing the work.
Leadership / WeaknessLesson 4Large-Cap LeadershipWhen a few giants carry the index — and what that hides.
Leadership / WeaknessLesson 5Small-Cap ParticipationWhy the Russell 2000 joining a rally changes its character.
Leadership / WeaknessLesson 6Breadth ConfirmationA new high that most stocks agree with, and one they don't.
Leadership / WeaknessLesson 7Leadership RotationMoney moving from one group to another without leaving the market.
Leadership / WeaknessLesson 8Defensive LeadershipWhen utilities and staples lead — and what that tone usually means.
Leadership / WeaknessLesson 9Growth LeadershipWhen technology and discretionary lead — and what that tone usually means.