AJ: Yes, 13 ema is good but think horizontally for a minute at look at the 1022 line and run it all the way back to October:
stockcharts.com[h,a]daclyyay[dc][pb20!b50!b200!c13!c20!c50!a1022!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
Now how many time in the past ten trading days have we attempted to take it out? I have lost count. And today they get it intraday only to get a bearish engulfing outside reversal facial off the upper bollinger band at the 50 dma.
Now that is why I view a close above ndx 1022 as short term bullish.
Just for fun, let's take out the candle noise and focus in on the closes:
stockcharts.com[h,a]dallyyay[db][pb20!b50!b200!c13!c20!c50!a1022!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
Interesting how this view puts the mess in perspective. |
