Done! SPX breaks her RSI trendline. See quote. Also note, much earlier I ponted out to poster volpri that SPX had broken her own Price action trendline on April 18, and since then has been hugging the underside of the line going up. This is weakness any which way. Who/what gave the signal first? SPX Macd trendline called it first on April 10.
QQQ & SPY busted. Qs trendline break on 4/30 Transports Trendline break RSI & Macd started today, Price right smack ON the line but no break yet NYA busted. i.e. New York Stock Exchange enters the crapper. When did NYA Price trendline break? April17. When did RSI TL break? April 24.. But which of Price's sons called it first-est? Why of course, Macd on April 12, then returned to line to test it, kissed it and bolted south on April 16. Where did all this occur? At 261.8% on the button. Textbook play.
So, I am like driving a muscle car with a full cam and you like driving a car that is hopped up on steroids by changing the chip. High tech? What you gonna do when the bulls come for you? Using indicators are like looking at the race after it is over. If you must use indicators then use price and not a derivative of price. “Price is the best indicator of price.” Make haste and put this on a sticky at the top of your computer. There are many waves. Many cycles. My wife doesn’t have to understand waves to dry her hair with a hairdryer. She just needs to know there is POWER (pressure..i.e. voltage and sufficient amps) in the plug and to turn the hairdryer on and off (that is, execution and management). The markets are bullish not bearish. ROFLMAO
If el Top has been correctly called, then once and for all the best leading indicator should be as it always has been, namely Crowd aka Herd Sentiment as measured by so many indicators out there like Schwab, Univ. Michigan, DSI, bla bla. All out the window. There is only ONE true King. VIX Vix called the First catastrophic crash on Jan 16, 2018, 10 days before the world stock market Top of Jan 26, 2018. But babe was not done yet. She then called the next crash of Oct 3, 2018 on August 30, 2018 - imagine that, one whole month BEFORE. Now that is what I call a Leading Indicator. And now finally to babe's magnificence TODAY, May 1 = sell in May & go away = who said she don't got a sense of humor? She gave signal on April 9 on Macd, then RSI signal April 25. And the creme de la creme? A 61.8% on the button hit on April 17 & then today's Price Trendline break. But wait, there's more. ...... Universe provides redundancy in spades. How so? From Dec 26 top in Vix to April 17 low, extrapolation of immediately previous wave gives a hit at 123.6%