Behold the power of the EMA 8x34 cross. Of my research on stocks that had an 8x34 EMA cross as going back to crosses that have been in play at least 1 month, I have arrived at the following conclusions:
1) 461 (97.5%)out of 473 of the crosses experienced a higher price than their crossing price on the day of the cross. Of the 12 that did not increase in price, only 7 never got back to their price at the cross.
2) Of those 461, the average hold time for them to hit their high price is 27 days.
3) 42 (9%) of them hit their highs the very next day.
4) 95 (20.6%) of them hit their highs within 7 days after the cross.
5) 54 (11.7%) of them hit their highs between 8-14 days after the cross.
6) 41 (8.9%) of them hit their highs between 15-21 days after the cross.
7) 38 (8.2%) of them hit their highs between 22-28 days after the cross.
8) 70 (15.2%) of them hit their highs between 29-35 days after the cross.
9) 50 (10.8%) of them hit their highs between 36-42 days after the cross.
10) 52 (11.3%) of them hit their highs between 43-49 days after the cross.
11) 41 (8.9%) of them hit their highs between 50-56 days after the cross.
12) 20 (4.3%) of them hit their highs between 57-63 days after the cross.
13) 149 (32.3%) of them hit their highs in under 2 weeks.
14) The average high for the 461 stocks was a whopping 19.1%
15) 299 (63.2%) out of 473 remain higher than they were at the cross. Their average price increase is 15.3%.
16) 168 (35.5%) out of the 473 are currently lower in price than at their cross by an average decrease of 8.9%.
17) 6 (1.3%) out of the 473 are currently at the same price as their cross price.
In my experience, this scan seems to be more powerful than the 50x200 SMA scan, but I will try to verify this new theory in the coming weeks with hard data.
I will continue to monitor the 8x34 EMA crosses going forward and compile as much information as possible on them.
~Boochy
