I won't discuss the many stock selection theories based on the various market indicators, but there are hundreds of books available to you if you are truly interested. More than one experienced investor has remarked that "trend lines, up/down volume, buying pressure vs. selling pressure, stochastic indicators, over-bought/over-sold indicators, new highs/new lows, put/call volume ratio, and moving averages are mainly a waste of time. They can mislead you and cost you a lot of money".

At the very least, many indicators work some of the time, but none are always correct. They may even point in different directions.

Economic indicators, however, do signal the direction of the economy. The basic economic indicators are employment, money supply, inflation, housing starts, balance of trade, interest rates, and gross domestic product. There are many more specialized ones that experienced investors evaluate.
 

Other Stock Market Basics Topics:

1. Stock Market Investing – the Right Way
2. More Stock Marketing Investing
3. How to Pick Winning Stocks
4. The Golden Rule of Investing
5. Avoid Psychological Traps to Have Successful Investing
6. Changes in Stock Values Can Be Big Numbers
7. How to Invest Smart
8. Stock Advice - Important Selling Rules
9. Poor Stock Buying Decisions
10. Market Indicators
11. Stock Market Cycles
12. When a bear stock market may not be a bear market
13. Stock Index Futures
14. Four Things that Affect Stock Valuation
15. What is a P/E ratio?
16. Value Investing
17. Cheap Stocks
18. What is a Financial Statement?
19. Analyzing Financial Statements
20. Stock Market Tip - Red Flags to Look For When Investing?
21. The Annual Report – How to Read
22. Stock Market Analysts – Stock Market Advice and Tips