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Thursday, April 16, 2009

S&P E-mini Futures Chart

What I'd like to show is take a look at the bottom study graph on the chart, the combined MACD and Stochastics. See how they are both screaming high as compared to the last 3 years or so and probably since the 2000 high if I could go back that far. The MACD is not quite as high as the 2007 top, but its catching. My point is they are due for a pullback I suppose.

Yet there is still no bearish MACD crossover so in theory you could go broke trying just to play by this indicator alone. But we do not use this alone do we? We have an ending diagonal situation and we have other indicators telling us that a 204 point runup without a 38% correction....well we are due.

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