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Still seeing ED's


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#1 eminimee

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Posted 14 February 2007 - 03:04 PM

http://stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=0&mn=11&dy=0&i=p14096164894&a=85048065&r=9615.png

#2 fib_1618

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Posted 14 February 2007 - 03:08 PM

Or it could be a leading diagonal. The daily volume data tells the difference between the two. Fib

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#3 eminimee

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Posted 14 February 2007 - 03:18 PM

Fib..yeah...I'm aware of that.....but we shouldn't be seeing that type of divergence on macd and rsi on a leading D?

#4 Bob-C

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Posted 14 February 2007 - 03:42 PM

http://stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=0&mn=11&dy=0&i=p14096164894&a=85048065&r=9615.png

Hi Teaparty, thanks for the excellent INDU chart depicting the potential ED and the MACD fan lines. :) Keep up your good work and your value for ethics. :)

Good luck on your trades, :)

Bob-C

Edited by Bob-C, 14 February 2007 - 03:46 PM.

Disclaimer: None of my posts are meant to be taken as investment advice or trading advice. Do your own due diligence and consult your financial advisor before making any trades or investments.

#5 fib_1618

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Posted 14 February 2007 - 04:00 PM

Fib..yeah...I'm aware of that.....but we shouldn't be seeing that type of divergence on macd and rsi on a leading D?

Divergences don't have the same degree of merit if the flow of money is moving in the opposite direction.

But forgetting indicators for a moment, an ending diagonal would tend to have higher volume characteristics than what we have at the current time. Leading diagonals, on the other hand, show lower volume levels due to the nature of traders continuing to disbelieve what the price sequence is suggesting. This works either in advancing or declining price patterns.

Fib

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#6 eminimee

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Posted 14 February 2007 - 04:03 PM

may have another small 5 to go to hit top....that's either first leg of 3 wave 5th....or as I have it on the spx daily...that's the last leg of the 5th. 1462/64 also hits top fork on weekly.

http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=1&dy=21&i=p80130476604&a=89430406&r=1035.png

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=8&dy=21&i=p39300587637&a=91722385&r=514.png

http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=3&mn=3&dy=0&i=p41860121417&a=81489240&r=2239.png