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Monday, June 15, 2009

E-minis Hourly MACD and Stochs

The hourly MACD and stochs on the e-mini hourly both are near the "floor" as I show in this recent snapshot taken a few minutes ago. This is all hours of course.

Another wave move lower may likely result in these indicators developing positive divergence and often signals the bottom of a 5 wave move or the bottom of an ABC structure of some sort. Then the positive divergence on the MACD often results in a nice bullish bounce at the least. You can see the 3-4 times on this chart when that happened, an up move was not too far around the corner.

Of course if this is P3 already, you can start to throw that kind of thinking right out the window LOL!! But P3 has not yet reared its ugly head I suspect.


  1. Dan, I'm expecting a lower opening tomorrow and we might rally into the close or wed morning...

  2. P3 it aint.......better get sum more are in a GS market and they will triangle us to death

  3. The market may have a nice bounce tomorrow morning.

  4. Dan, could you chart the Reuters/CRB index?

    Fib retracement shows we are near a pivot/resistance pt. I am interested in what the EW'ers have to say about it.