Back here in S.A. we have a Technical Analysis commentator, a Dr.Clive Roffey, who has a weekly appearance on one of our Satellite channels (Ch.412 Summit TV).
He also has his own web site at :- www.charts.co.za.
He’s been in the TA business for over 40 years and tends to favour the Gold Market.
For quite a while now he’s been putting forward his opinion and analysis that most of the major stock market Indexes are showing top formation patterns (Double Tops, Head & Shoulders, Rising Wedges, ....) which he believes are indicative of a potential bear market looming.
Apart from the local market, he also comments on the major US Indexes such as the Dow, S&P500, etc…
He has also developed several of his own indicators, one of which is a grouping of several Stochastics of varying time scales (21, 54, 89 for longer term and 7,14 and 25 for shorter term). When these Stochastics group together in the 70% to 80% region that, in his opinion, forecasts a future decline. In the 20% to 30% region it forecasts a future rise.
He’s also a proponent of Divergences between indicators and price. When RSI’s, MACD’s, etc.. diverge relative to price, then he expects price to follow the indicator’s direction.
Anyway, just thought I'd put that forward ... |
