for the SPX...I tend to think the trend has turned down...sure a
bit early to be sure but if we get an ABC up here after what looks
like a 5 wave decline to this mornings lows, then the next wave
down will be the one to show us....either a wave 3 or C wave...
can't wait to see what the various weekly charts look like this
weekend, so many indicators to check!!
Yep, the 60 min charts need some work and honestly the 15 min
index charts need some work to via the MACD. I prefer to
short oversold bounces; what I like to see is on a 60 min chart,
short when stochastics gets overbought and crosses 80%, it's simple
but a good guideline.
looking for abc up B wave
Posted by perthx on 20th of Jan 2011 at 01:26 pm
for the SPX...I tend to think the trend has turned down...sure a bit early to be sure but if we get an ABC up here after what looks like a 5 wave decline to this mornings lows, then the next wave down will be the one to show us....either a wave 3 or C wave...
can't wait to see what the various weekly charts look like this weekend, so many indicators to check!!
Yep, the 60 min charts
Posted by matt on 20th of Jan 2011 at 01:34 pm
Yep, the 60 min charts need some work and honestly the 15 min index charts need some work to via the MACD. I prefer to short oversold bounces; what I like to see is on a 60 min chart, short when stochastics gets overbought and crosses 80%, it's simple but a good guideline.
60 min sto
Posted by perthx on 20th of Jan 2011 at 01:50 pm
are you talking about the 14,3 or the 60,3 or both?
Either way if the trend has indeed changed, we may not see either get back above 80 for several days yet...
Wouldn't it be the 60
Posted by frtaylor on 20th of Jan 2011 at 02:32 pm
Wouldn't it be the 60 period stochastics?