Thanks very much again, Bob
Very interesting discussion. I have printed out your extract from Elder's book.
And now, after my crash course, I am an expert! I can already see that when the +DI (green) and the ADX (black) are above the -DI (red) we have a bull market, which is all one needs to know.
I have tested the indicator on various charts and, as expected, some work better than others. From what I have learned
1. On the daily chart, it's still a bit early to call the turn in gold stocks. However, if one uses the weekly chart, there was not any indication to sell --- the bull trend is still intact!
stockcharts.com[h,a]wacayyay[de][pb10!d20,2!f][vc60][iLl14!La12,26,9]&pref=G
2. Weekly gold is also in a bull trend
stockcharts.com[h,a]wacayyay[de][pb10!d20,2!f][vc60][iLl14!La12,26,9]&pref=G
3. USD is now in a bear trend
stockcharts.com[h,a]wacayyay[de][pb10!d20,2!f][vc60][iLl14!La12,26,9]&pref=G
4. NAZ, S&P etc are in deep bear trends. In fact, on the weekly chart, the S&P has been in a bear since October 2000.
stockcharts.com[h,a]waclynay[de][pb50!d20,2][iLl14]&pref=G
QED. |
