Check out this chart

Discussion in 'Technical Analysis' started by tradersaavy, Aug 30, 2003.

  1. Most experienced traders can probably look at a chart and within a second get a feel for it being bullish or bearish.

    Look at this chart and list your initial take on it.

    Then figure out what chart it represents.

    This won't work if you figure out what it represents first.

    The indicator is MACD 4,13,1
  2. kewl chart....:D

    I figured out what the chart was before I really looked at it well....but it didnt matter...

    that chart cant in any way be considered bullish..... no way..imo

    Market to new highs $$$ yeah baby... get long and strong!

    Dow 10,500 and Naz 2100 by Nov 04' to complete re-election "market proppage"
  3. Atlantic


    why did you post it upside down??

    anyway - it might go up (ie down) - or maybe not ...
  4. Phreedm


    Kind of a spartan chart....but I'd say, with the MACD basically trending upwards, and setting higher lows with each price low, we might be looking at a triple bottom.
    Since the price is testing support , I'd go long at this point.
    I'm assuming the MA are 50 day and 200 day?
  5. The MA are 20 day and 200 day.
  6. Gotta really "stand on your head" to trade that one!
  7. Don't be shy.

    There's no right or wrong answer.

    At 10:35, 8/30 there have been 43 viewings of the chart and only 4 replies. :) :D

    Also, so that everyone else can look at the chart without knowing what the chart represents at first, try not to comment on what the chart is.

    Even though, a lot of you will know what it is right off the bat, cuz we live by the charts !!!!
  8. I've been long this chart for a few months now, and I'm still bullish now to at least 1160 to 1170 on the S&P over the next few months.
  9. Interesting point of view.
  10. TGregg


    I've noticed that markets move up differently than down. For instance, a slow downdraft has a higher chance of reversing than a slow climb - markets like to move down quicker than they move up. So IMO, it's not accurate to merely reverse the chart and see if you get an opposite "read" from it, since part of that "read" comes from differences in the personalities of a climbing market vs. a declining one.

    Or maybe I'm just a nut. :D
    #10     Aug 30, 2003