ETF Range Projections
If you go looking for a friend, you’re going to find they’re very scarce. If you go out to be a friend, you’ll find them everywhere.
- Zig Ziglar
For more detailed economic data click “Today’s Calendar” in the navigation bar to the left.
Asian markets are weak while Europe is listless: Nikkei 225 -0.81%, Hang Seng -0.68%, Shanghai -2.96%, DAX -0.03% and the FTSE -0.17%.
At about 7:15 AM ET, probably because there are no adults in Washington we are looking lower: DOW -100, S&P -10, NAZ -12, Oil -$1.10 and Gold +16.90
Trade Safe and
have a great day!
Screen Week – Indicator Divergences
Early June I happened upon a discussion on Linkedin. Question Asked: The best technical indicator I have ever seen! A few responses -
- In my opinion, divergence is the most predictive of all the indicators. This has worked well for me for over the years.
- It has worked for me as well. I trade mostly daily and 4-hour charts. Like any indicator, it is not infallible, and is best used with one eye on the news feed.
- Yes.. RSI Divergence is the most powerful Indicator I have ever seen. This works really very well. Almost 90% of my trades on RSI Divergence gave me tremendous profits..It gives you early signal than any other Indicator..It gives the early signal of trend reversal.. It will produce very good results when deliberately used with Fibonacci and the other Trending patterns.
- RSI Divergence are very powerful and I have observed those divergence which take place with least data points (say within 10 bars on any time frame) have a tendency to give the best returns. Though this setup does not occur very frequently, when it does, the moves are very sharp and offer excellent returns..
- I have been using RSI since 1978 ( even before we all had computers and calculated the RSI values each afternoon by hand). It is so much more than an overbought/oversold indicator. I use it and have taught my course students how to use it to identify trend, recognize trend change and forecast future price objectives with my Positive/Negative Reversal Patterns.
Source: Technical Analysts/Traders click on Link to view the respondents. One of our member services is a daily stock screen looking for divergences in a few different technical indicators of which RSI is one. Click pictures to make full size.
As an example Lululemon (LULU)
