re IBIS...
Bollinger Bands (Indicator):
Conventional Interpretation: The Bollinger Bands are indicating an oversold condition. An oversold reading occurs when the close is nearer to the bottom band than the top band.
Additional Analysis: Volatility appears to be picking up, as indicated by an increasing distance between the upper and lower bands over the last few bars. The market appears oversold, but may continue to become more oversold before reversing. Look for some price strength before taking any bullish positions based on this indicator.
MACD (Indicator):
Conventional Interpretation: MACD is in bullish territory, but has not issued a signal here. MACD generates a signal when the fast moving average crosses above or below the slow moving average.
Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is DOWN. MACD is in bullish territory. However, the recent downturn in the MACD average may indicate a short term decline within the next few bars.
RSI (Indicator):
Conventional Interpretation: RSI is in neutral territory. (RSI is at 44.02). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.
Additional Analysis: RSI is somewhat oversold (RSI is at 44.02). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence here before getting too bullish here.
Momentum (Indicator):
Conventional Interpretation: Momentum (-0.25) is below zero, indicating an oversold market.
Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is DOWN. Momentum is indicating an oversold market and appears to be slowing, suggesting some strength. A modest upturn is possible here.
Volume (Indicator):
Conventional Interpretation: No significant indicators triggered for volume.
Additional Analysis: The long term market trend, based on a 45 bar moving average, is UP. The short term market trend, based on a 5 bar moving average, is DOWN. Volume is trending higher, allowing for a pick up in volatility.
Money Flow (Indicator):
Conventional Interpretation: Money Flow issues a signal when a new period high or low is reached in the market which is not confirmed by a similar new high in the Money Flow Index. The market reached a 9 bar new low here which was not confirmed by Money Flow. A bullish outlook is appropriate here.
DMI (Indicator):
Conventional Interpretation: DMI+ is less than DMI-, indicating a downward trending market. A signal is generated when DMI+ crosses DMI-.
Additional Analysis: DMI is in bearish territory.
LarryWilliams Expert (Indicator):
With the PercentR being less than 20, this is a good indication of a possible rally to me. Near the end of a decline, prices often close near their extremes as in this case. If the market opens lower than this bars low and then fills the gap I would be bullish.
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