down trend in progress, page-22

hi hoohoogrub,

Here's my weekly chart for the stochastics and macd. Not sure how it's bullish and actually looks to be more downside imho; but always interested to hear other interpretations if you have a few minutes.

Cheers
H







Uptrend since March has been broken. This alone does not imply a downtrend but at the very least tells us the uptrend is compromised and to be on our guard.



Moving on to my favourite. We can see that once the 90dma crosses the 150dma, it's goodnight nurse every time! The 90 is currently heading down to do exactly that. However the red circle i have highlighted shows that the move can be rejected for one last push up.

Once again, rather than treating any one indicator as gospel or putting all our faith in one system, this should simply tell us caution is needed and not to go commit to much on the long side until the retracement is finished if and when that happens.