Yes what Arun failed to mention is when he touted the SPX Golden
Cross near 4200 in early Feb (literally within a few days of
topping) and then fell 400 points. It marketed a trend
reversal DOWN - this type of rudimentary analysis is deeply flawed
as it does NOT produce consistent results.
personally I don't like things like the 'golden cross' because
they were created like 40 years ago before we could all plot charts
and indicators, when things were done by hand, it's just so
rudimentary and one of the few things they could do back then
just go to TradingView and use one of the many free MA cross
systems, and test a bunch of stuff with the 50/200 day MA, then go
look at the trades in the past.
I blame the media for giving the 50/200 cross the the name '
golden cross' because that makes the general public lazy and
think that it's very special, because it has the word 'golden in
it' so it's perfect and amazing'
everyone trading some signal needs to go investigate the data
themselves - again easy way is to go and use one of the free MA
cross strategies and test a bunch of them - nothing can replace you
physically examine the data yourself
Yes Matt... appreciate your input. And I do get the point
Steve and you are making here. I will also point out the
bearish crosses in future to cater to the bearish crowd lol...just
kidding
Junkie still feel we may rally into end of March ?
Sentiment is certainly trying to set up. I look at QQQ:SPY
ratio at 82 so that is going to have a tough time leading much more
.
The best objective EW view is a flat correction. I am still
entertaining a view of the leading diagonal.
I see a slow grind into the end of march because everyone is so
bearish. Very unlikely, we could dump after the FOMC next week. I
am ready for either one.
Those crosses are for longer term/intermediate term ..not short
term trading. Also they are not something created out of thin
air. When 50 day crosses 200 day it is a shift in trend. No
need to complicate that
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Yes what Arun failed to
QQQ golden crossThat QQQ cross I pointed out last week ...
Posted by steve on 17th of Mar 2023 at 08:46 am
Yes what Arun failed to mention is when he touted the SPX Golden Cross near 4200 in early Feb (literally within a few days of topping) and then fell 400 points. It marketed a trend reversal DOWN - this type of rudimentary analysis is deeply flawed as it does NOT produce consistent results.
Can you share me the
Posted by arun on 17th of Mar 2023 at 10:14 am
Can you share me the link where I had mentioned SPX golden cross ?
personally I don't like things
Posted by matt on 17th of Mar 2023 at 10:19 am
personally I don't like things like the 'golden cross' because they were created like 40 years ago before we could all plot charts and indicators, when things were done by hand, it's just so rudimentary and one of the few things they could do back then
No simple technique like the
Posted by junkie on 17th of Mar 2023 at 10:31 am
No simple technique like the gold cross has worked since 2021 in a carefully and deliberately manipulated market.
just go to TradingView and
Posted by matt on 17th of Mar 2023 at 10:35 am
just go to TradingView and use one of the many free MA cross systems, and test a bunch of stuff with the 50/200 day MA, then go look at the trades in the past.
I blame the media for giving the 50/200 cross the the name ' golden cross' because that makes the general public lazy and think that it's very special, because it has the word 'golden in it' so it's perfect and amazing'
everyone trading some signal needs to go investigate the data themselves - again easy way is to go and use one of the free MA cross strategies and test a bunch of them - nothing can replace you physically examine the data yourself
Yes Matt... appreciate your input.
Posted by arun on 17th of Mar 2023 at 11:08 am
Yes Matt... appreciate your input. And I do get the point Steve and you are making here. I will also point out the bearish crosses in future to cater to the bearish crowd lol...just kidding
Junkie still feel we may
Posted by rbreese on 17th of Mar 2023 at 10:34 am
Junkie still feel we may rally into end of March ? Sentiment is certainly trying to set up. I look at QQQ:SPY ratio at 82 so that is going to have a tough time leading much more .
The best objective EW view
Posted by junkie on 17th of Mar 2023 at 10:41 am
The best objective EW view is a flat correction. I am still entertaining a view of the leading diagonal.
I see a slow grind into the end of march because everyone is so bearish. Very unlikely, we could dump after the FOMC next week. I am ready for either one.
Agreed up grind higher and
Posted by rbreese on 17th of Mar 2023 at 10:44 am
Agreed up grind higher and most often we have a rally into FED meeting too. Thanks.
If something is warning about
Posted by junkie on 17th of Mar 2023 at 10:49 am
If something is warning about a dump, it is /GC. If the double top at 1966 breaks to the upside, all bets are off on the market.
Those crosses are for longer
Posted by arun on 17th of Mar 2023 at 10:34 am
Those crosses are for longer term/intermediate term ..not short term trading. Also they are not something created out of thin air. When 50 day crosses 200 day it is a shift in trend. No need to complicate that