The distance price is away from the 195 (or rate of change in price relative to the 195) is producing a tap and run type effect which i have mentioned earlier). ie price has increased to fast! not slowly grinding up to the Red horizontal line on the MACD (1,195,1) indicator.
Tap and runs on the Dow have historically provided at least a cool off in price in the short term.
Each vertical blue line indicates when the two MACD indicators have reached the red horizontal lines together. The Dow is now currently doing this.
I have not put a great deal of time into reviewing this indicator... but the above includes all the data i have back to 1992.
The distance price is away from the 195 (or rate of change in...
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Last
7,971.6 |
Change
-64.900(0.81%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,036.5 | 8,036.5 | 7,923.6 |
| XJO (ASX) Chart |