The longer-term indicators don't look so marvelous tonight. Of course, Bill Sandusky's are all turning down: CCI(13), MACD (5,35,4), my RedLine proxy Stoch (8,5), his Average Price. The indicators in Dave Evans' system aren't faring so well either: StochRSI(14) is crossing down through 70. StocRSI(8,5) is well down. InSync is crossing down through 50 (the cowardly so-and-so). MACD(8,17,9) is turning down and nearing the trigger line. My only consolation is DNS, which is at 7. Well, Dahl looks OK -- a medal for Dahl for holding the line. It's interesting to see how the price fell almost exactly to the top horizontal Gann retracement line today, if you plot from the low in May.
So in short, what can I conclude from all of this? Help! What do you think? It's very helpful to hear your views with a real case -- live, on-the-spot coverage, you know. What I can't figure out is how you can know exactly when the move back to the horizontal retracement lines will occur. Were you watching price reach for the upper resistance line and not quite make it, then concluding it would fall back?
Does anybody want to create an "ATMS -- Technical Analysis" thread, or wouldn't that be worth it?
Brooke |
