T/A ETF AND INDEX

[capt_jmj]

The slope of the MACD(10,66) has now gone negative, so look for the overall direction of the market to be down for the next 2 - 3 weeks.

For anyone who is not familiar with the MACD, it is simply the difference between two EMAs of the specified lengths. It is more useful (IMHO) than a two EMA crossover because it allows you to catch more of the market moves from a high or low instead of waiting for the lines to cross. In this regard, the slope (first derivative) of the line is its instantaneous rate of change, and when that goes from postive to negative, the markets' next most likely sustained move will be down. However, there can always be outliers in any data set, so the slope is "smoothed" over an 11 day period, which prevents a one-day whipsaw from disrupting the trend.