A technical analyst will ever rely on one indicator to make a technical call. The key is to use other unrelated studies – so if you use simple moving averages do not use the MACD and if you use a simple rate-of-change to not use another momentum study and so on
The technical evidence to support the call for a new 2012 – 2013 bull market is compelling. Long term cycle work and the simple 50 and 200 day MAs are positive. The short 2011 bear has completed a perfect Fibonacci retracement of the 2008 – 2011 bull and now we have the NYSE advance decline line breaking out. So don’t listed to those doom and gloom idiots – get long and enjoy and most of all avoid those gold bugs
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4 comments:
Why does the NASDAQ AD line look so different than the NYSE AD line?
Are the SnP and DOW breaking out?
Hello Shawn
The NASDAQ A/D line is lagging possibly due to the group being concentrated in info tech and bio-tech stocks - the NYSE is a broader measure of the US equity market
And yes the DOW and the S&P have broken above their late October highs
Bill C
Great call.
Shawn
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