The MACD recently crossed on SPY with more downside possible shown by the automatically generated trendlines below. Is this the start of the next leg down or a MACD fakeout? Lets hear your thoughts!
Forget MACD. Popular as it is, it's still a "2nd derivative" of price. Any trader worth his salt would have made his play long before MACD. When I first heard of MACD, I thought... "that's really stupid... nothing more than a waaayyy lagging indicator and likely not even good at that". Nothing since has changed my mind.
Markets/issues spend a lot of time in "channels"... both small and large. "Touches" are often action points. The Regression Channel tool I used to have in MetaStock (Raff?) allowed me to "shrink/expand to fit", but the one I have now doesn't do that. So I have it in mind and "eyeball" it.