I don't hold DW8 but I've been watching from the sidelines and am interested in entering.
I'm giving you my personal 2 cents. This opinion more than likely means nothing, so take what I say with a grain of salt.
You asked about technical indicators, so even though I'm not a chart trader per say, I'll give you my opinion atm.
In short, I've found all the technical indicators that you named to be pretty worthless by themselves OR if they're being watched as first indicators. But for the sake of making the post more detailed, here is how I see charts.
When I look at a chart (Putting all fundamental analysis aside) I tend to go like this;
1) What're the highs and lows of the recent past? (12 - 18 months typically but will even go further)
2) I identify gaps in the chart (Gaps, whether we like it or not, fill 9 out of 10 times. The market does not want to take a position in every unbalanced out of hour trade - conspiracy but in my mind, it at least tells us why gaps always seem to fill)
3) I look at volumes associated with the gaps I mentioned. Are these gaps exhaustive? Were they gaps made out of desperation on the way up? Is the volume higher or lower than average? Look at 50 ma line, overlaying the volume bars
4) I look for trends in the ema patterns. Learn about "the golden cross" e.g. 15 ema crossing over 50 ema OR 50 ema crossing over 100 or 200 ema. The opposite of this trend is called "the death cross"
5) If the stock is volatile, I look at the 10 day moving average (SP very rarely moves too far from it, if the SP is too far from it, it will more than likely adjust itself and come back down or up to move with it)
Notice my moving averages come last. Every indicator is a lagging indicator and this makes the EMA lines particularly unhelpful as starting points. The RSI, Cash flow Index etc... are the full stop to your sentences. Your sentences are made up of more important things, like all time highs, gaps, volume, and mostly FUNDAMENTAL ANALYSIS. The lagging indicators are just the full stop to kind of confirm your sentence.
With all that being said, you CAN'T time the market perfectly and many times, at all. The truth is technical analysis pales in comparison to Fundamental analysis and being positioned in a good, solid, medium or long term stock. Let me put it to you this way, I will ONLY do technical analysis on a company I believe in or am very interested in. Basically, I use my technical analysis as an entry point and then way down the track, as an exit point. But fundamental analysis is the bread and butter of every trade I make or chart I analyze. Basically if you're going to take anything out of what I'm saying...
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