Good poker players learn to read their opponents’ “tells” – subtle signs in their behavior that tip off what cards they REALLY have. Good market technicians learn to do the same with oscillators – subtle signs in their behavior that tip off what the MARKET is getting ready to do.
Here’s a great example from Charles Dow award winner and APSTU editor, Chris Carolan, regarding the ASX 200:
Australia – ASX 200 Index
The ASX 200 is holding on to recent gains while intraday momentum measures and the breadth oscillator are correcting. The ability of overbought indicators to correct themselves while prices move sideways is a hallmark of a strong trend. We remain intermediate-term bullish on the ASX 200. Market timers who attempt to catch short-term pullbacks are likely to find the market runs to the upside and does not give them a re-entry opportunity.
Carolan has been in the markets for nearly 40 years and YOU can read his analysis 3 times a week and get an education too. Click here.
