Thursday, April 22, 2010 11:27:40 AM
Anyway, there are many different views of a "golden cross" and basically it is just when a shorter term MA crosses a longer term MA which is perceived as a bullish indicator. But many believe the real "golden cross" is when the 50 SMA crosses the 200 SMA which we are quite away from happening yet. Now if your dealing with the 100 day crossing, then yes I believe we might get there pretty quick in fact on previous posts I mentions that "we have a small storm brewing" were my words. I was discussing the 20, 50, and 100 at that time and that small storm is still in progress. But when the 20, 50, and pps cross the 100, I think that will be a pretty good bullish signal. The hundred is now at .011 in which is putting a pretty good chance of the pps and the shorter term MAs to cross it and I hope to stay above it, not just flirt with it as the pps did on the last high we'll have to just wait and see.
Anyway here's a chart showing all those lines and some horizontal resistance and support lines that I'm personally looking at. One could put one every .0005 for a variety of reasons if wanted too. The PSAR has switched (standard and non accelerated showing), and some different settings of the StochRSIs and Stoch showing some bullish tendencies but I would like to see them stay on top for a little bit and not just go right back down or at least the pps stay pretty stable and just the short term Stoch go down and back up. Volume is so so, Momentum pointing positive, RSI in the middle, and I would like to see the CMF head upward a bit for a real bullish sentiment. All in all, we're still in flat mode on a longer term basis, but looking for that to change pretty soon.
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