Augie--any thoughts?
"LG - given the reaction to my P&S question, are "sto d-blows" a topic you are willing to discuss here? I'm teasing, sort of, but I actually would like to figure out the logic behind that theory. A cursory look at some charts (the depth of my analysis) suggests that there may be at least some surface validity to the idea that a rally has failed when the stochastics turn up from 20, then touch 50, and then reverse back down again. If the stochastics setting is for the last 14 days, and the indicator is at 50, I understand that to mean that the current close is in the 50th percentile of the highs and lows for the last 14 days. If the price turns back down after the stochastics indicator drops from 50, is that more or less the same as saying that price has reached, and been repelled at, a 50% fib. level? Maybe there's no relationship between the two. Pardon me if this is an ignorant question."
