Replies to post #128980 on SPDR S&P 500 (SPY)

[USDollar]

I don't use many indicators
Too many advisers (indicators) don't mean you're better off, maybe more confused. Sometimes they even collude.

"Your chart shows all indicators pointing down."

But what chart that would be?
If it's my "Home-runs" chart, it only has TWO indicators so I'm confused by "ALL indicators" comment.

In that chart you have stochastics which by the instructions there is a BUY.

The second indicator is ADX. It points to a BUY (bottoming rather) as well if you look at the ADX red line being near the upper "oversold" horizontal thick red line.
Now ADX unlike many, is a rather complex indicator, and it can be red in few ways , so as they say, "good luck with that"...
What we can see is a signaling of NON trending. This is not bullish, and the ADX red line being crossed above is also a negative, thus a bearish note.

But I stick with the red line touching my upper oversold horizontal thick red line.
(oversold status derives from the ADX red line nearing the upper horizontal red line - it signaled many other bottoms AND tops before if you look closely)