Reply To: Technical Index Trading & Analysis

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#3429
RS2OOO
Keymaster

Daily MACD on DOW is the highest its ever been.

Looking at 4 occasions where MACD was almost this high, on 2 occasions it marked an exact top, on 1 occasion it was followed by a top within a few days and on the most recent occasion price just carried on going up.

However, on all 4 occasions MACD was almost this high, the very next day retraced at least 50% of the previous day’s candle, which translated to now would mean DOW will retrace to at least 17,670 tomorrow (Thurs). Futured are currently at 17,750 so thats at least 70 points profit on a short taken now.

I’m going to try that trade.