Using all the layers including MACD
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After yesterdays' selloff, even on the heels of today's rally, we can put the island bottom to bed. We can also put the oversold condition to bed. But, we do now have a return to an unconfirmed recovery phase in …
{written by Geoff Bysshe, co-founder of MarketGauge, filling in for Mish}
Mish was expected to return Tuesday morning, but it is now more likely that she'll be back Wednesday morning with an possible appearance in the room and on Twitter …
The most important consideration in determining market direction is price action. It's not indicators that measure overbought or oversold. That said there and interesting oversold pattern in the 3-day RSI and the McClellan Oscillator. It is not a typical pattern …
Trends to watch as year ends and we enter the new one
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Seeing a lot of oversold indications on the 2-Day RSIs as NASDAQ (QQQ) and Midcaps (IWM) as both indices fill gaps to negate an island bottom whilst S & P 500 (SPY) did not. Volume was lighter than yesterday's. The …
The Short Side
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Today reminds me of an anxious child (the market) anticipating some great big surprise (From the FED) and when it doesn't happen (No Policy Change), throwing a bit of a tantrum (The Selloff). But, does that child remember the tantrum …
Consistency Most Important Aspect
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Looking at the S & P 500 (SPY) chart, the important number to hold is the upwardly sloping 50 DMA at 122.73. That would keep the island bottom and phase intact. Furthermore, the 80 monthly moving average comes in right …