I know opto, but when i look at the chart, it looks like the cross shows a historical bull run, not a future prediction, and that has always been my argument about charting - it shows historical trends!!
Anyway, if it works keep following it, I'm just too stupid to work it all out and too lazy to read up about it!!
(the chart is HYC by the way).
Alan

Been a nice move through July Alan, may come back a little from this level don't you think? Then restart the climb if the indicator is accurate on this occassion.
Good luck

Made a mint on this 9makes up for some of the other dross).
thanks for the good luck bit.
Alan

Good Morning all

Much to my disappointment, I have short UKX

buy RTR as these are gonna fly, day traders only

HYC ...... I'll ask the same Q as I asked yesterday ..... If sp is already miles above golden crossing, why should it rocket again from that level?

I'll give you the same answer.
Chartists tell me the crossing point is irrelevant.
I don't even pretend to understand charting.
I never said it would. I actually said I couldn't understand how it could!!

Midday Market Roundup

Alan ..... thanks for that illuminating answer .... lol! ...... Will try to get a better answer for you from my "chart whizz" but he's not back from holiday until early next week ..... FYI, RSI is now about 81, which conversely indicates heavily overbought, so make of that what you will

Just adds to my cynicism on charting, really.
i am desperate to believe in it, as it seems a lazy mans answer to investing, but I can't get my head around it!!!

Anyone know what's happening @ SPT, normal daily volume 3-4m, yesterday 29.85m and so far today almost 11m.
2517

I understand something trends and supports and resistances, but the esoteric stuff I leave to my "whizz" who is pretty hot on these things

Just as well I switch from short to long UKX earlier. Just closed - would like to short, but too unpredicatable at the moment.

I find the charts aren't following the rules at the moment so I am trading on what I see rather than what I think.

End-of-day Market Roundup

Have a great weekend everyone!

Thanks G, 22 posts on here today....things are looking up.

What is the difference between EMA and DMA or are they synonymous?

Absolutely no idea, cynic.
Still learning the basics after all these years, me.
Every days a school day.

I'm glad I didn't stake my life on charting this week - at the end of last week the DJIA and FTSE both seemed to cross every moving average from 15 right up to 180 days in what looked to my inexperienced eyes like a very favourable bull pattern - and they still slumped this week!

I prefer to pick my stocks based on fundamentals (plus a healthy dollop of wishful thinking) and just rely on the charts to support my opinion when I feel that things may be looking cheap.

Schoenes Wochenende.
ST.

du auch!

Cynic asked:
What is the difference between EMA and DMA or are they synonymous?

A DMA is simply the Average price of the DMA that you are charting.
eg the Average of the last 200 days price for a 200 DMA.
So each day's price action has equal weighting

An EMA (Exponentially Weighted Moving Average),
puts more emphasis on the recent price action.
You use a formula that alters each day's figure to give more weight to the
recent action when the EMA is plotted on to your chart.

Up to you which you want to use, a real average over your chosen period,
or an average that is skewed towards the more recent price action.

Hope that helps.