The US Indices recovered enough to void the Swing Trend Indicator's intra-day sell signal, and that's why I use it as an EOD indicator.
The SP-500 Daily Indicators are currently a mixed bag with some on sell and some neutral (meaning still bullish).
The ADX issued a sell signal, but sell signals based off this indicator allow the SP-500 to run up 20-40 more points and still be valid. In most cases it causes an immediate sell-off, but there are occasions when the market runs higher before it reverses. Also, the ADX didn't reach a level that gives better short/buy opportunities (the 35-40 level). If the market starts down tomorrow, I'll probably jump into shorts.
There's no good trendline that can be drawn on the MACD at this point, and there has yet to be a cross, so I'll just monitor it, but we can basically trash this indicator for now.
RSI Gave a change in trend (CiT) on Monday, March 3rd when it broke the uptrend line and put in a negative divergence on the new high in the SP-500. This indicator is bearish, but moreso if it breaks the 60 level.
StochRSI broke it's uptrend line, but still resides in bullish territory. It needs to drop below the red line to be on sell.
Stochastics broke below the prior low created on March 3rd and below the 80 level, issuing a sell signal. This indicator is bearish.
The SP-500 broke the newly drawn uptrend line connecting the February 5th and March 3rd lows (can be seen on every chart except the STI). Today, it backtested that broken trend line. That could also be bearish.
The indicators are too mixed for me to change the blogs stance from bullish to bearish, so I'll wait another day. Obviously caution is warranted for the bulls.
HI James,
ReplyDeleteCan you please add Ultimate Oscillator for signal. I heard and seeing in practice that this's the most accurate of indicators.
thx