The market today pushed up just the way our indicators overbought signal told us. Yesterday the 60min Stoch. was on overbought with a Daily main trend on an up position. This meant that trend was up and that on an hourly basis our momentum was pushing higher until we turned down on a 60min chart and out of overbought. As you can see since yesterdays entrance above overbought we have been shooting higher. If we start to cross downward, we would then wait for the 60min to reset and see if the Daily follows. If the Daily still shows an upward trend then we would enter with a 60min crossing up. As it stands though this trend is still Upwards.. Frustrating the Bears in the process.
THROWIN IT OUT THERE:
as a possible count.. for those EW crazies.
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