$SPX - I had to run a few important
errands today and just got back, but I see that the market has held
up well. Gold stocks have continued to move higher and gold
is off its lows
here's a 5 min SPX chart, really I'm just posting this for an
educational purpose:
Notice how the MACD got pretty far above zero on the morning run
and simply recycled back to zero for much of the day where it found
support, that's typical action to watch for.
Also the 25,270,25 MACD histogram bars have done a good job
lately for marking the general trend buy when it's above zero and
short/sell when it's below zero.
60 Stochastic - notice that yesterday it was below 20% all
yesterday I noted that when that occurs, the market is due for a
bounce the next day. Obviously we got that today, now however
we see Stochastic above 80% for the entire day.
Posted by frtaylor on 29th of Dec 2011 at 03:24 pm
hard to know if the bounce is just a correction and then we
resume down again. If we close up here we will have retraced
well over 50% of yesterday's candle, negating the evening star
pattern.
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SPX 5 min
Posted by matt on 29th of Dec 2011 at 03:22 pm
$SPX - I had to run a few important errands today and just got back, but I see that the market has held up well. Gold stocks have continued to move higher and gold is off its lows
here's a 5 min SPX chart, really I'm just posting this for an educational purpose:
Notice how the MACD got pretty far above zero on the morning run and simply recycled back to zero for much of the day where it found support, that's typical action to watch for.
Also the 25,270,25 MACD histogram bars have done a good job lately for marking the general trend buy when it's above zero and short/sell when it's below zero.
60 Stochastic - notice that yesterday it was below 20% all yesterday I noted that when that occurs, the market is due for a bounce the next day. Obviously we got that today, now however we see Stochastic above 80% for the entire day.
and today the 60 sto
Posted by ditch on 29th of Dec 2011 at 03:48 pm
and today the 60 sto is above 80% all day.
hard to know if the
Posted by frtaylor on 29th of Dec 2011 at 03:24 pm
hard to know if the bounce is just a correction and then we resume down again. If we close up here we will have retraced well over 50% of yesterday's candle, negating the evening star pattern.