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(UPDATE)Obstacles in the way of Daily SPX getting to Phase 2:
Opened above Daily EMA 8, that's good.
xObstacle #1 - SPX Daily LTL at 1322.42 (Crossed)
xObstacle #2 - SPX Daily EMA 3 at 1323.38 (Crossed)
xObstacle #3 - SPX 60 min UTL at 1324.57 (Crossed)
xObstacle #4 - SPX Daily EMA 8 at 1327.81 (Crossed)
Obstacle #5 - SPX Weekly EMA 8 at 1332.47
Obstacle #6 - SPX Weekly EMA 3 at 1333.24
Daily Phase 2: SPX Daily UTL at 1335.75
Weekly Phase 2 continues: SPX Weekly UTL at 1340.3
(UPDATE)Obstacles in the way of Daily SPX getting to Phase 2:
Closed above Daily LTL, that's good.
xObstacle #1 - SPX Daily LTL at 1322.42 (Crossed)
xObstacle #2 - SPX Daily EMA 3 at 1323.38 (Crossed)
xObstacle #3 - SPX 60 min UTL at 1324.57 (Crossed)
Obstacle #4 - SPX Daily EMA 8 at 1327.4 (Reached/Then pulled back)
Obstacle #5 - SPX Weekly EMA 3 at 1331.0
Obstacle #6 - SPX Weekly EMA 8 at 1331.63
Daily Phase 2: SPX Daily UTL at 1336.34
Weekly Phase 2 continues: SPX Weekly UTL at 1340.3
(UPDATE)Obstacles in the way of Daily SPX getting to Phase 2:
Slide back to square 1.
Obstacle #1 - SPX Daily EMA 3 at 1321.06
Obstacle #2 - SPX 60 min UTL at 1322.34
Obstacle #3 - SPX Daily LTL at 1324.02
Obstacle #4 - SPX Daily EMA 8 at 1327.89
Obstacle #5 - SPX Weekly EMA 3 at 1328.68
Obstacle #6 - SPX Weekly EMA 8 at 1330.47
GOAL TO REACH: SPX Daily UTL at 1337.91
(UPDATE)Obstacles in the way of Daily SPX getting to Phase 2:
Obstacle #1 - SPX 60 min UTL at 1320.54 (Done)
Obstacle #2 - SPX Daily EMA 3 at 1321.25 (Done)
Obstacle #3 - SPX Daily LTL at 1324.02 (Done)
Obstacle #4 - SPX Daily EMA 8 at 1328.97
Obstacle #5 - SPX Weekly EMA 3 at 1331.0
Obstacle #6 - SPX Weekly EMA 8 at 1331.5
GOAL TO REACH: SPX Daily UTL at 1337.91
(UPDATE)Obstacles in the way of Daily SPX getting to Phase 2:
Obstacle #1 - SPX 60 min UTL at 1320.54 (Done)
Obstacle #2 - SPX Daily EMA 3 at 1321.25 (Done)
Obstacle #3 - SPX Daily LTL at 1324.02
Obstacle #4 - SPX Daily EMA 8 at 1328.26
Obstacle #5 - SPX Weekly EMA 3 at 1329.4
Obstacle #6 - SPX Weekly EMA 8 at 1330.77
GOAL TO REACH: SPX Daily UTL at 1337.3
(UPDATE)Obstacles in the way of Daily SPX getting to Phase 2:
Obstacle #1 - SPX 60 min UTL at 1320.54 (Done)
Obstacle #2 - SPX Daily EMA 3 at 1321.25
Obstacle #3 - SPX Daily LTL at 1324.02
Obstacle #4 - SPX Daily EMA 8 at 1328.09
Obstacle #5 - SPX Weekly EMA 3 at 1329.09
Obstacle #6 - SPX Weekly EMA 8 at 1330.63
GOAL TO REACH: SPX Daily UTL at 1337.16
Obstacles in the way of Daily SPX getting to Phase 2:
Obstacle #1 - SPX 60 min UTL at 1320.54
Obstacle #2 - SPX Daily EMA 3 at 1320.88
Obstacle #3 - SPX Daily LTL at 1324.02
Obstacle #4 - SPX Daily EMA 8 at 1327.87
Obstacle #5 - SPX Weekly EMA 3 at 1328.68
Obstacle #6 - SPX Weekly EMA 8 at 1330.3
GOAL TO REACH: SPX Daily UTL at 1337.02
RCKS,
my thinking is that with regard to market indices, the use of Black-Scholes pricing of derivatives -- options and futures -- means that the only people making money, on average, are the clearing houses. If the B-S (not a pun) curve works, as I think it does, then the integration of volume/price always converges very closely to the last trade at the end of every day with the net result that it doesn't say anything about final price a few days later.
Those comments are for indices, not common stocks. I think Put/Call ratios, and imbalances, are much more meaningful for common stocks (not for indices).
Since this subj. is not very close to northam's system, and I don't want to make anyone cranky, this is it for the day -- at least.
JLS
I do think a tremendous amount of Puts are purchased every month as insurance for large positions, no doubt about it. If you look at SPY out of the money Put positions all the way down to 120, they way out weigh the number of out of the money Call positions sitting above the market. But regardless of why the bets are made they are made and from Market Maker perspective they stand to do much better if most positions just melt away that are out of the money.
So I do believe as expiration approaches there is a tendency for price to seek a narrow range and hold it. When we do make a Bigger move near expiration the move tends to go farther then most expect and I believe that is do to Market Makers needing to Delta Hedge positions that are now vunerable/expensive to them.
RCKS,
let's suppose for example that there are two scenarios for SPX puts ...
1) large Put position as primary bet because investors expect market to turn bearish, and when all things considered, they want to make money as it does go down;
2) large Put position as secondary bet because investors expect market to turn bullish and they want those gains on stocks being held, but they aren't convinced so they take Put positions as insurance and are willing to loose on those (as insurance always has an underlying cost).
One argument says investors expect the market to go up; the other argument says to expect the market to go down. Net result is net Put/Call position says nothing about market direction.
What do you think about that?
That is an interesting point about it fitting a Bear Pattern and that actually fits with what I think is happening here. This drawn out consolidation is what some call Basing ahead of a Bullish move or a coil. I think of it as acquiring fuel for the move and that fuel comes from Shorts/Puts betting against the market or betting that a top is in.
Can't know yet but being a contrarian to certain degree, I like that sentiment is way down here, 26% Bullish.
A short squeeze here would have us explode up for a bit and then the market would likely gaining some traction from new highs and have folks join the parade for a bit.
We'll see though, just thinking out loud....
Rcks - If that be the case, this would be the 3rd cycle(technically the 4th cycle) in a row that the Phase 2 didn't make the average. That is not a very common occurence and with the last two phase 2 cycles be 1 trading day, then 2 trading days, if this one lasted only 1 trading day that would be more like a Bear Market than a Bull market.
So I would be very surprised if this Daily Phase 2 only lasted one day.
Looking at the Daily & Weekly MACDs, I believe we could see a huge push to the upside at anytime. I just hope the weekly don't cause me to sell off before it happens.
northam I am someone who believes especially during weak trending periods that Option Expiration has an influence on price. I believe we will close below 1340 today or on 1340/134. Too many Calls out number Puts at 1340 and above. I like that we got the Phase II but I do think we could slide back into one more Phase I tomorrow as they hold price at or below this level.
I remain Bullish and think we have a higher high yet to come.
Knickel - Thanks for your comments. Hopefully they go the message.
northam and rcks.....I appreciate your discussions of Northams system. I follow those discussions and benefit from them..
I still don't know why other folks clutter this board with discussions of "their" systems. I don't visit to see the status of "their" systems. Maybe they could provide a link to their own board once.......and then if anyone is interested in following
"their" system, they can visit the board.
If they don't have a board for their system, I hope they get one...
Rcks - Yes, normally when the price gets back above the LTL that's a good indication it's headed to the UTL. I would feel alot better if the price gets above the weekly UTL at the 1341 level.
We have moved above the LTL on my chart and I would not be surprised by a tag of the UTL either today or tomorrow. I think the 1338.80 the Ted Burge longer term horizontal is still influencing price and a close above it today or tomorrow would be bullish IMO.
SPX Daily Phase 1 is now in the 5th trading day, the average is 6. The current price level is below the LTL, so since it has not gotten above that level it doesn't look like it is going into a Phase 2 any time soon. The Daily UTL is currently at the 1344.85 level, if it does get to that level, then the Weekly price would cross back above the Weekly UTL which is currently at 1341.16.
Actually the last time the Daily Phase I was above it's average was during the March 8-23 period when it lasted 12 trading days. There have been 3 cycles since then, with one being at the average and the other 2 well below the average. So the SPX Daily is due for a longer Phase I.
Trend1,
that's correct, and another source of error even if it's only intra-day. In fact, I've been wondering if it's worth watching both closely and try to take advantage of that ... then I remember that I don't want to be that active.
There's a name for that kind of trading but it slips my mind now. There are funds, and traders, that specialize in that type of thing and the ones I'm thinking about trade companies that are in the process of being purchased. They try to get the difference between what the purchase price is and what the purchased company is trading at.
Duma,
As I pointed out in Post# 1506 using QID and QLD as an example, I always monitor what I'm going to trade and I always go Long. That way there are no errors in the prices of whatever the trade is, and I go Short by going Long an inverse ETF. I don't care about games with dividends; I do care to keep margin at a minimum when dealing with anything except options.
If I wanted errors in trade execution, I would monitor QQQ and trade QLD. But I want to minimize errors, so if I'm interested in trading QLD, then that is all I monitor. I would never monitor X to trade Y, no matter what anyone says about the relationship between X and Y.
In other words, when trading QID and QLD, I have absolutely no interest in what QQQ does or what $NDX does, or anything else.
If you trade X while watching Y, you might get caught with price going in the opposite direction because one paid dividends while the other one did not. That happens.
Duma
Interesting.
I trade TNA and TZA and use charts of TNA and TZA.
Why?
Because they can over shoot and under shoot the index.
And my money is in TNA and TZA, not the index.
Every one is different.
Good question, and then you pointed right at the answer. I monitor IWM and trade UWM because of the tracking errors, just as you said. If the two don't track at times then the trade signals can be different. Which trade signals are you going to trust? I want to trust the base symbol. I have been burned by this a couple of times.
It's just a personal thing of mine. I know many who do trade the multiple etf directly.
Duma,
I'm sorry too, but I didn't write anything about your UWM. I wrote: "I think you mean TWM, not IWM."
My reasoning was: your original message (that I questioned and offered a correction) had a sentence containing both IWM and UWM. IWM is a 1X Long of Russell 2K index. UWM is a 2X Long of Russell 2K index. So it didn't occur to me that you would monitor one and trade the other. So I decided one of them must be a Short and you wrote the wrong symbol in the message; then a made a guess as to what you meant to write.
Just curious. Why don't you monitor what you trade? Sometimes there are tracking errors between the two during the day (I've seen them, and sometimes they aren't trivial) -- the managers don't claim to track the underlying sector during the day; the effort is to match at the end of the day. Do you think those two ETFs pay dividends on the same day, and by the same percentage amount? I haven't checked into it, but I really doubt it, and that could give you a totally bad trade on dividend days because it's immediately reflected in price -- I think usually at the beginning of the day. So for two ETFs and four dividend days per year for each ETF, there would be eight trading days where there is no tracking at all.
SR Density Lines for Dow Ind
It didn't dawn on me till early this morning that I should have also included the Dow Industrials since that index is a major market influence and it can act independently at times ( such as today). Its nearest downside SR level is 12,380 but the largest area is at 12,280. If it reverses before reaching that level, it simply means a likely continuation of the upward trend. The two largest Capitalization Weighted sectors in the S&P500 are Technology at 21.1% and Financials at 15.8%. The next one down the list is Energy at 13.3%. (Data as of March 31, 2011)
Sorry, but I do mean UWM. I monitor IWM, but I only trade UWM, long or short.
As far as slippage, the bid/ask is usually $.01. So I have to buy or sell .01 from the market. If the stock is $13 such as QID was, that is almost .1%. If it is a $80 stock, the % is way down. If I am buying to hold for a few hours or day, the loss is not so bad, but if I am short term trading, that is a big hit if I am only looking to gain .3-.5% on a trade.
Sup-Res Lines Going Back 4.11 Years:
The horizontal scale represents price-window hits over that period which started just before the big fall, so it’s all the most pertinent data for the last Bear-Bull cycle. Not only do the magnitudes of the lines count, but also their Density. The chart is turned 90-deg so that the price is lined up with a standard stock chart. It’s a 3-D calculation, and it wont be long before I have 3-D charts where Density has a value and tilts the lines outward.
$SPX has its closest and strongest support level at 1,330, and price is there now.
IWM has its closest Support level at 82+, but it’s weak compared to 81-, then monster support at 79. But price is now very near 82. The question is whether it will be drawn toward 81, or 79, or respect Support at 82.
QQQ has its nearest and strongest support at 57, and it looks strong there, and price is very near.
Duma,
I think you mean TWM, not IWM.
Price is not related to slippage. It wont matter if the ETF is $5 or $500. Everything is on a percentage basis. Price is not a factor. Ratios of prices are percentages, so price drops out of the equations. Considering your 0.5c/sh fees, you should trade the most expensive shares you can get wiuthout breaking your checkbook.
Large slippage occurs between two extremes: large percentage price moves over a short period of time at one end of the range, and low percentage price moves over a long period of time at the other end of the range. The amount of slippage is the same at any point along the range. When there is a lot of slippage over a short time, there will also be a higher VIX. So VIX is an effect, not a cause as some people think, and it mirrors the magnitude of the slippage. I think you understand that by now. A parallelism would be to notice that rain causes both the ground and the trees to get wet, and that it is not the wet trees that causes the ground to get wet. So if you don't want to be on wet ground, stay away from places that have wet trees.
I don't go short anything. One reason for that is that my retirement account prohibits going short. The other reason is that short positions require maintenance of margin (along with added interest expenses), which is essentially dead money whether it is in cash or other stock. So I only go Short by going Long inverse products. And it doesn't hurt because it makes my Swap system math half as complex. If the system is Long QID, then it only monitors QLD for the opportunity to go Long that. Conversely, when it is Long QLD, it only monitors QID for the opportunity to go Long that. In neither case does the system care about $NDX. So, it only has to know how to do one thing -- two Excel sheets get all the same math routines and charts, but one is named QLD and the other is named QID. Simple. If I want to trade TWM and UWM, all I have to do is rename the sheets. Makes it easy to change over to any pair of anything as long as the leverage ratios are the same (1X or 2X or 3X).
Rcks - I also am still Bullish. Today the Daily Phase I closed 20 points up from the projected low. I believe it's not very likely that we will get the projected low, but we may get a bit closer. It was a big relief when the Weekly hit the UTL the 1st hour of trading this morning. So that means the earliest the Weekly can confirm a Phase I is May 27th. A normal Weekly Phase I doesn't drop below the UTL two weeks before. Not to say it can't happen, I would have to check when the last time that did if it has ever happened. At the closing the 60 min RSI(6) remained below the 30 level so that kept me out of a buy. Hopefully in the morning the price will drop and then rebound and I get my last buy position, and then the 60 min goes to Phase II and then the DAily goes to Phase II and then the Weekly goes back above the weekly UTL. That would make me happy.
Since I have one post remaining I will be saving it for the consolidated Daily reports that I will post this evening.
northam
Back to the market at hand for a moment. Today is day 3 of Daily Phase I, you project the low to come tomorrow and the target is 1307. I don't believe we hit the target but I do think we could have put the low in today or it could come tomorrow.
Not that Bulls are winning any real battles here of late except you could argue they have held their own and if we don't trade lower much it could be argued they are about to win by holding these levels price wise.
I remain Bullish.
JLS, I agree with everything that you say. I have been using QLD now for many months to swing trade and it has worked great. When I short I like to short QLD rather than buy QID and you gave a great explanation as to why they works well also. When QID was running $13, there was just too much slippage so that is why I started shorting with QLD.
I'm not sure what you are clearing up for me, because I don't see that we have any difference in our thoughts. Good summary especially about VIX. Part of the reason I am not having any problem holding QLD's is that I am never long when the market is tanking.
FYI, I have now switched to IWM and UWM. So far so good. Since I am swing trading, the larger swings are really welcome.
Sorry for all the commotion I caused. Thought I was helping, but it seems not.
Duma,
I think I can clear this up for you in a few short statements, and in the process correct some fallacies.
1) I use large numbers to explain 2X & 3X "leakage" because the point is made dramatically without many calculations.
2) It is not all about VIX. The root cause is the linking of performance to percentage values balanced at short intervals.
3) The problem compounds more quickly as price moves become larger. That is the connection to VIX.
4) The problem compounds more quickly as the tracking interval is made smaller -- at End Of Day (as are the current 2X- and 3X-ETFs), versus weekly, or versus monthly (as there have been formal proposals to do this).
5) The problem will always be greater in a Bear market when compared to a Bull market simply because VIX (which is a measure of the size of the price moves per Statement 3) is always at its highest levels in a Bear market. Bear markets are fast and furious, Bull markets slowly climb walls of worry.
6) Your example, where you didn't see much trouble, was during a very calm -- relatively low VIX -- Bull phase. You will want to hold a Long 3X forever in that kind of market. Even small corrections in such a market are worth holding through, because you will loose less than if you try to jump in and out -- the buy-the-dip players will beat you up.
7) Because of all these factors, you can hold onto a leveraged Long ETF during a Bear market, but for a much, much shorter period of time than during a Bull market. And be especially careful to not be Long a leveraged ETF on those Bear days where price will make huge drops without any warning -- those will kill you.
I have looked at the numbers myself and verified that it is true. The biggest problem I see with the strategy is the cost of trading. I use Interactive Brokers where I can trade for half a cent per share. Since there would be 10 trades/week that equals .50, which is almost .4% lost per week using SPY. That is a pretty steep number to overcome. So for now I have just put this idea in the curious fact file.
If one wanted to trade say a $100k account with TD at $8 per trade, now it might start to make some sense.
As far as trading at the open, I have never tried it but IB has a MOO order type, Market On Open. They also have a MOC, Market on Close, that I have used often and works great. As I remember, the executed price was always very close to the printed closing price. It was at least so close that I don't remember, so it had to be close.
I am no good at trying to figure out where the market will open tomorrow. Several that I know trade futures all night, so if there is a gap up or down, they have already make their money.
Good luck with your system. I know you do good work.
Duma,
thanks for clearing it up.
If I read it correctly, I'm impressed. It would also be easily verified.
But ... from a practical point of view, accounting for the mechanics of executing trades, it is very difficult to always get the opening price. For starters, I'll assume one has a broker where limit orders can be placed where the limit price is set at the opening price and not a specific preselected number (because you don't know the opening price ahead of time). A strict limit order to sell in the morning can easily go unfilled for the whole day because you will be asking for opening price or better, which would be equal-or-higher in the case of a sell order. The other type of limit order turns into a market order when triggered, so the order would surely get filled but very often at lower prices, maybe much lower.
At the least, the information you gave helps validate what I found and that it makes a great deal of sense that my system was modified to allow jumping the gun and buying on an opening partial gap prior to price crossing the trigger level.
But I'm very thorough about my backtests. So I also tested what happens if one jumps the gun and buys because of the PG, but later in the day finds that price did not close above the trigger. On average, over time that strategy looses money. So you should only do that, within the other limitations of my system, if you are sure that the Close will be above the Trigger level. Most of the time there is very little doubt -- price usually gaps for a reason that is not difficult to figure out. But for backtesting purposes, my software can't perform that reasoning, so that's why I incorporated the closeness test using ATR (which is the poor man's version of VIX, except it has the advantage that it can be easily calculated on any stock without performing mathematical gymnastics).
Over the weekend I posted the SPX Cycles Trading in a Bear Market flow charts. You can view them at this location:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63130886
If you care to discuss them or provide your input, please do so at this board (SPX Cycles System Daily Cycles).
Good with me. Good discussion. Thanks.
Duma
Let's agree to disagree.
Trend1, I am not sure what your last try is aimed at doing. You have surely picked such an extreme example that of course holding SSO would be a bad idea. But who in their right mind would have held either SSO or SPY for the period you talked about, June 2007 to now.
My point was that one can hold SSO for even several months with almost no loss under the right conditions. I gave you the actual numbers and showed that the loss YTD was only -.07%. Do you not believe those numbers? If you do not accept facts, then I don't know what to say.
My experience with QLD shows that holding any bull 2x+ during a bear period is not a good idea. So yes there are times one can hold a 2x bull and times to switch to bear 2x. If you want to continue to believe that 2x funds are only good for day trading, I am ok with that. There are many who believe the same thing.
Trend1, again let me say again as I did in my original post that everybody wants to use +10 and -10 to show how bad things are using 2x funds. And yes here is another article that does it again. And yes if you are up one day 10% and down the next day 10%, a 2x fund will be down -4% where as the 1x fund will only be down -1%. That is just pure math.
But the reality is that the % movements daily are much smaller so the effect of above is not too bad.
I posted you actual data that shows the loss for holding SSO since the beginning of the year had only resulted in a -.07% loss vs holding SPY. This is actual data. I don't know what else I can say.
SPY SSO
12/31/10 125.75 48.05
05/13/11 134.04 54.32
Gain 6.59% 13.05% 6.52% divided by 2
Northam, I have very little experience with SSO, but knowing what I do about QLD, I am sure as you said it would not be wise to hold any bull 2x+ etf in a bear market. Good info.
JLS, I apologize for not making my post clearer. In your original post you were talking about whether to enter a trade just seconds before the market closes or at opening price on the next day. That is what I was speaking to.
I also feel bad for the time you spent giving me a detailed answer. I will try to be clearer in the future.
What the graph shows is that the gain of a buy & hold since Jan 93 has been 193%. But if you had bought SPY at the close each day and sold at the open the next day, the compounded gain would have been 378%. Also if you had bought each day at the open and sold at the close of the same day, the gain would have been -38.6%. This tells me that the gap openings that occur are very important to catch.
It would appear that the way your system works, this is not a factor. That is great.
Here is a link to the full article.
http://www.bespokeinvest.com/thinkbig/2011/1/26/who-needs-the-trading-day.html
Again, sorry for the confusion.
JLS - Thanks, I really needed that. It is raining again, as usual, and you had me laughing out loud. I have found that pseudo intellectuals are always a hoot when they get stirred up. It is even underlined for emphasis. That is great. LOL.
IF the futures hold we should gap down a few points in the morning. This will supply the common overthrow of the bottom trend line of the last EW pattern.
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The focus of this board will be on my SPX cycles system using Daily, Weekly & Monthly charts. This cycle system is not intended to identify the tops and bottoms. The intent is to identify the middle area.
SPX cycles will be broken down into two phases. Phase I(Bear) is the down trend phase and Phase II(Bull) is the up trend phase.
A Phase I(Bear) starts when the SPX price opens and remains below the upper trend line(UTL). For a Daily Phase I(Bear) to be confirmed, the SPX price opens and remains below the UTL price the entire trading day. The confirmation for a Weekly & Monthly Phase I(Bear) is the same process as the Daily, except the Weekly price must remain below the UTL the entire Week and the Monthly must remain below the UTL the entire Month.
A Phase II(Bull) is confirmed immediately when the SPX price hits the UTL.
A new chart will be posted each time a new Phase is confirmed.
I will provide current averages for each Phase and each time frame. Averages are the primary data I use in buying and selling. When in a Bull Market Phase I's are normally shorter than Phase II's and in a Bear Market Phase II's sometimes are shorter than Phase I's. So in a Bull Market Phase I, I would buy long below the average and sell in Phase II above the average. In a Bear Market, I would buy long in Phase I above the average and in Phase II would sell below the average.
I will provide projections based on historical data that I continually collect and analyze.
The objective of SPX Cycles, is to identify short term (Daily), medium term (Weekly) and long term (Monthly) direction of the market.
Phase I - Starts at the beginning of a down trend and ends at the confirmed up trend. The confirmed up trend is when the price touches or crosses the upper trend line.
Phase II - Starts when a confirmed up trend is identified and ends when a confirmed down trend has started. The confirmed down trend is when the price opens below the upper trend line and remains below the upper trend line the entire trading day for a Daily Phase I. the entire week for a Weekly Phase I and the entire month for a Monthly Phase I.
During a Bull market, Phase II cycles will normally last longer than Phase I cycles.
During a Bear market, Phase I cycles sometimes last longer than Phase II cycles.
Bull market - For this board, a bull market is confirmed when the SPX Monthly EMA 3/8 has made a bullish crossing, and it is confirmed at close of the market on the last trading day of the month.
Bear market - Is the same as the Bull market except the SPX Monthly EMA 3/8 has made a bearish crossing that is confirmed at close of the market on the last trading day of the month.
Other indicators that this board will use: PPO (3,8,4), MACD (12,26,9), RSI(14), CCI(24). These are secondary indicators and are mainly used to try and detect a change of trend in the early stages. The PPO is usually the first warning sign followed by the MACD, RSI and CCI.
The upper and lower trend lines on all charts are the EMA 11 (high) and EMA 11 (low)
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