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by the way i had looked at the "gold" and i see it quite Bearish( becuse of the negative macd)
so maybe the markets (spx,djia ,other) as more up to go (but they also have very big negative macd)
zozo71zozo71 2 years ago
Well right now you have something that we have not seen in a while and that is gold acting stable with the dollar up today. So we have to see going forward if this was a fluke today or is there a bigger picture. The markets broke out after hours and I am now reading that Australia had a drop in unemployment. So maybe we do the same and have a big bust tomorrow. Will have to see will be a great trading day nothing less.
askchrishetrades 2 years ago
i see the SPX can go to 1100 but i have to see the macd if the SPX will get there....
zozo71zozo71 2 years ago
I agree with you and will have a video to show possibly the same thing. WIll be out before tomorrow 1 pm.
askchrishetrades 2 years ago
Bearish indication depends on how you interpret the indicator. For instance... when RSI or Stoch are above their max levels... 70 and 80 respectively, for me it's a time to look for buying opportunities.
Really large trend breakouts appear as overbought on any indicator. It's only when you go to the higher time frame that it makes sense.
kosai19 2 years ago
its true :-)
zozo71zozo71 2 years ago