Trying to time the market is an investment strategy that only the lucky few succeed with.
Instead of trying to time the market, you should consider investing your money over multiple months in even amounts. With this approach you have a higher chance of getting the optimal price per stock you want to buy. Another benefit is that you can avoid a lot of the headaches that comes when constantly looking at market prices. The pressure that comes with checking stock prices daily is not for everyone.
The logic behind this investment approach is that getting the average price of stock (over 12 months) will minimise the risk of buying too high price while also benefitting from times where the stock is at a low price.
You have 6,000 USD available to invest.
Invest $500 per month
Example
After 12 months or in other words, 1 year, you will have invested the full $6,000.
This approach is more suitable for individuals that invest for the long-term and looking to keep their investment over a prolonged period of time. In this approach you are spreading your buy-order over 12 months which will give you an average price for the 12 month while growing your portfolio size as you add funds into it.