SPY Chart

TrendSpider_Jake

TrendSpider_Jake

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The MACD recently crossed on SPY with more downside possible shown by the automatically generated trendlines below. Is this the start of the next leg down or a MACD fakeout? Lets hear your thoughts!
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TrendSpider_Jake said:
Thank you for your thoughts!
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Forget MACD. Popular as it is, it's still a "2nd derivative" of price. Any trader worth his salt would have made his play long before MACD.

When I first heard of MACD, I thought... "that's really stupid... nothing more than a waaayyy lagging indicator and likely not even good at that". Nothing since has changed my mind.
 
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Scataphagos said:
Forget MACD. Popular as it is, it's still a "2nd derivative" of price. Any trader worth his salt would have made his play long before MACD.

When I first heard of MACD, I thought... "that's really stupid... nothing more than a waaayyy lagging indicator and likely not even good at that". Nothing since has changed my mind.
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Do you have a favorite chart study Scat? I mean if you had to pick one.
 
vanzandt said:
Do you have a favorite chart study Scat? I mean if you had to pick one.
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Markets/issues spend a lot of time in "channels"... both small and large. "Touches" are often action points.

The Regression Channel tool I used to have in MetaStock (Raff?) allowed me to "shrink/expand to fit", but the one I have now doesn't do that. So I have it in mind and "eyeball" it.
 
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