February 5, 2017
Moses Stock Trading Blog Site – AmiBrokerAcademy.com
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Welcome to Moses’s US Stock Analysis @ AmiBrokerAcademy.com.
We posted the following chart just one day before, see link below.
February 2, 2017 S&P 500
^GSPC S&P 500 2017
S&P 500 has a MACD cross up signal and follows a MACD cross down signal. Now, the MACD signal looks like cross up signal again. After job reports, the market has turned around. S&P 500 is retesting the same high again.
As we said, as long as the price action do not close below the key level, you can be sure it is still bullish for now. You see, the market bounce up.
Again, remind you that the market is volatile, so trade what you see.
February 3, 2017 S&P 500 and MACD Indicator
^GSPC S&P 500 and Fibonacci
The tail almost touch the 78%, if you will look at the chart closely the price action actually supported by 61%. So, the key level like 61% is a good level to watch.
So, if the bar does not close below the key level, you will have to think twice to assume the trend is bearish.
February 3, 2017 S&P 500 and Fibonacci
Moses
AmiBrokerAcademy.com
Disclaimer
The above result is for illustration purpose. It is not meant to be used for buy or sell decision. We do not recommend any particular stocks. If particular stocks of such are mentioned, they are meant as demonstration of Amibroker as a powerful charting software and MACD. Amibroker can program to scan the stocks for buy and sell signals.
These are script generated signals. Not all scan results are shown here. The MACD signal should use with price action. Users must understand what MACD and price action are all about before using them. If necessary you should attend a course to learn more on Technical Analysis (TA) and Moving Average Convergence Divergence, MACD.
Once again, the website does not guarantee any results or investment return based on the information and instruction you have read here. It should be used as learning aids only and if you decide to trade real money, all trading decision should be your own.