something to think about for monday, page-15

Treggs

I have an indicator I named MYMACD.

Because MACD is unlike RSI and Stochastics, it has no finite upper or lower limits and will get bigger with bigger prices.

So MYMACD divides by price to give a more rational view.

Next week puts it at 2003 lows.

Beyond that the indicator has been 5 or 6 weeks lower which is great from an Armstrong March 23 date point of view.

However often the low is just a couple of weeks away and a bounce and retest to slightly higher or lower low.

I will post two daily charts below which have nothing to do with MACD's.

I am sure most watch the first type which is your standard trendline on the daily highs.

The second is a daily close chart and is unfashionable in today's real time environment.

I believe the latter is more important and will be a better upside breakout indicator should it happen soon. Of course you have to wait till end of day. It may be that if we continue down then the two will not be so distant apart. At the moment SPI looks a long way from upside breakout but XJO close chart says it is nor so far away.