Jeff, good point about the differences in stochastics
When people don't post a chart you have no idea which settings they're using, or even which stochastistics they're using. Also, he didn't say whether he was talking about the stochastics on COMP, NDX, INDU or whatever. Pictures really are worth a thousand words sometimes.
I'll assume (for the sake of illustration) that Paul was using the full stochastics on stockcharts.com with their default 14,3,3 settings. In that chart the stochastics on $INDU ($COMPX, too) are just barely pointing down.
stockcharts.com[l,a]eaclyymy[pb13][vc60][iLp14,3,3!La12,26,8!Lw25!Lg]
Now, change the stochastics from full to slow and use 5,5 settings and you get a more distinct pointing down.
stockcharts.com[l,a]eaclyymy[pb13][vc60][iLh5,5!La12,26,8!Lw25!Lg]
Which ones do you use on the hourly charts (and which ones do you use on the one minute charts)? |
