Algokid

Best Market Indicator Ever : Update

INDEX:S1TH   S&P 100 Stocks Above 200-Day Average
1321 2 4
It's been more than two years since I first published John Carlucci 's "Best Market Indicator" research here. Almost 10,000 views on the original chart, WOW ! .

I'm republishing this again with some minor updates. On the first publication, we looked for signal on a monthly basis, this time around we'll be using the weekly chart to determine market conditions. The rules are still the same :

Following a major market correction, the conditions for safe re-entry are when:

a) Daily $OEXA200R rises above 65%

And two of the following three also occur:

b) Weekly RSI rises over 50
c) Weekly MACD grey line rises above red line
d) Weekly STO grey line rises above red line

*If indicator falls below 65 % , do not open new positions or close open positions.
*If indicator falls below 50 % , close all positions.

*You don't have to follow the last two rules.

Based on the current reading , the market is still "tradeable"

I have been using this since I discovered the research over two years ago, and has helped me a lot with my long term trading . I hope it will help you also.

Cheers and have a great weekend

Algo
For the STOCH indicator on the chart , the colors are reverse. Please change red to grey and vice versa.
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If the time permits , I will post updates every weekend.
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