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I like to plot the Indices versus the number of Stocks making a new 52 week high / low. The recent rise has been accompanied by a solid number of new highs. While the market may correct with the number of new highs decreasing - for any substantial drop I would like to see a rise in the number of new lows. There are none for a lot of weeks now and I have started to sincerely doubt my method of calculation. Could someone verify these numbers please? Many Thanks Bernd Kuerbs
Firstly, you are wrong just because you are basing this argument against indicators on assumption. Moving average is an indicator and is widely used by almost every successful TA trader. Yes, you can trade just price, but you wouldn't be seeing what other entities are seeing as far as a bigger picture is concerned.
Please do. Because I'm just starting out with intraday trading and I'm trying to find the magic system with indicators. So far I'm not doing so good
You have Bullish reverse divergences,you are in a clear uptrend,and you arent listening to price...Picking tops is not fun business