Rodgerdodger, what's wrong with the green "T" shown below ending August 2nd?
I am a rank amateur Magic "T" operator.
Douglas, as a "rank" amateur, you out-rank me!
Your T looks as good as any I could have drawn if I had included August.
Your macd settings are a little bit different than mine but I don't think that has much effect if any.
I don't think the "professionals" even use it as a simple main reference.
But IF your T nails another top, I will definitely blame you! LOL
Best to you.
Here are a few things the blogger above (https://ttheorygroup.science.blog/) is looking at:
As DP (Decision Point)points out: The Price Momentum Oscillator (PMO), the Volume Trend Oscillator, the Intermediate-Term Breadth Momentum oscillator (ITBM), and the Intermediate-Term Volume Momentum oscillator (ITVM) can help identify significant overbought/oversold conditions that often precede important trend changes over the course of several weeks/months. Watch for extreme readings in these oscillators that provide “early warnings” for market turns. Also watch for intermediate-term buy/sell signals that are given when these oscillators cross their 10-day EMAs.
The A/D line is declining, and is presently standing right on the 20EMA line. This is in contrast to Price, which has been advancing. That too is a not suggestive of further advancement.
Edited by Rogerdodger, 23 May 2023 - 02:57 PM.