On a side note, I just wanted to point out how forward-looking my custom indicators really are. Yesterday, you can see that my indicator registered over 170 stocks in the S&P with confirmed buy signals. This was accompanied by choppy, and hard fought, price action sideways-to-down during that period. Then, as the signals declined, which usually means the stocks have since bottomed, reversed, and have shot higher therefore alleviating the overbought condition and no more registering a signal, the stock market as a whole shot higher about 40 points. I use this indicator, which is comprised of several custom indicators, to help make my stock selections as well.
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.