Market: On Thin Ice ... New: Find Divergences ... Classes in New York and Holland
This weekly chart of the Dow shows a nasty bearish divergence of MACD-Histogram as well as MACD Lines from the bullish trend. When both divergences occur at the same time, they greatly reinforce each other's message.
The Impulse system is one of the most sensitive and objective tools for tracking trends and reversals. It remained green (bullish) at the end of November on the monthly charts of the Dow, the Nasdaq and the S&P, as well as on the weekly chartsof the Dow and the Nasdaq (it turned blue for the weekly S&P). This inset shows how high the monthly charts have to rally in
December to maintain their bullish green levels - obviously all are well below those levels. It also shows how high the weekly charts must rally the week of December 9 to maintain their green levels. How likely is this market to get there? Not very...
Click here to continue reading.
New: Find Divergences
MACD Semi-Automatic Divergence Scanner
- only $199 instead of$299 - only during December 2013
Divergences are disagreements between patterns of prices and indicators. They are among the most powerful signals in technical analysis, but automatic scanners mark too many false positives while missing good ones. Dr. Elder addressed divergences in all of his books, and he recently dedicated an entire e-book to them, with dozens of charts that show how to identify and trade divergences.Click here to order.
Classes in New York and Holland