More New Signs

I use weekly indicators the way some use moving averages. One trader may not feel totally comfortable with a 100% long position, for example, until price has closed above the 200 day sma. Weekly indicator crossovers can be a good sign that trendiness is in the works and they can also be a self-fulfilling prophesy as there are longer-term traders who wait for these crossovers before they'll even open a position. I showed yesterday that on $SPX the weekly MACD's had crossed, here's two more. Momentum and Binary Waves. No headfakes on these two. They haven't generated a weekly bull cross since April of 2008. (2 charts)

U.F.O.

UFO, thanks for the great charts!!! There was a time frame this year where you made a weekly assessment similar to what we have now and made the comparison to (I think) the Oct 2002 low. Do you recall, and find any parallels to the present situation? I found that analysis most useful. Thanks and all the best in the coming New Year!!

Hey Darris and thx. All bottoms are different but the 2002 $SPX's was definitely tradeable on the longside after the weekly MACD bull cross. Here's what it looked like. (1 chart)

U.F.O.

UFO, Thx for the 02 chart.