My November 1st post of a double-top is becoming more and more likely, but the overall environment does not favor a strong stock market. Strong Summer and Sept/Oct meltdown? Yeah, probably...
Why 90 and not 100? I actually have a strong sept and oct forecast after that it might get ugly. Even on your chart, when ever the MACD dips below the 0 level and then crosses up past that 0 level, it has always lead to rallies. Also with confluence with RSI touching the 20 level or below, Very powerful indicators there.,
GunMoney
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@WeAreSat0shi, macroeconomics that's why. The banking system is set to meltdown, by design, there is no fixing this, they are creating the environment for the 2nd Great Depression. Before 2024 elections, starting this Fall.
@WeAreSat0shi, MACD rebounds that cross up past zero do not just result in strong rallies, but these rallies have historically lasted a long time, it most cases they lasted two years or more! Strangely enough, the momentum indicators on GunMoney's chart show historical patterns that run in the opposite direction of the prediction.
GunMoney
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@BlkGold, just because something happened in the past does not guarantee it'll happen in the future. The weekly MACD has already crossed and RSI is nearing overbought. Look at the 1M MACD, completely different story, has yet to cross and very well may not. The weekly MACD is already oscillating bearishly. The weekly MACD is of little relatively little value here.