Paula - Your links have problems, I think it's in the date fields.
However, I know what the chart looks like, and I understand your point - the MACD looks like it's improving, insofar as it is not hanging off the bottom of your monitor anymore. Traditional interpretation would be that the trend is slowing, and might therefore be signalling a possible reversal.
Call me whatever, but IMO the calamitous fall we experienced requires that you ignore that observation of what would otherwise qualify as positive MACD divergence.
Why? Because the first drop came off a ridiculously high level and was so huge, only another drop of similar magnitude could make the current indicator appear neutral. That would have to mean that we are still in the midst of an enormous counterwave down from 5000+, and due for another turn down in MACD that would put the COMP somewhere around 500 near term.
That's something I don't expect. Maybe Longdong does, though ROFL
The other interpretation, of course, is that you are right, and that we are going to head up. Anything is possible in this game, but my bet is that big time up is not going to happen this year. |
