Been working on a indicator when to long or short combining 3 indices.
XJO, XJO futures and SP500. Daily Charts. all three add:
On balance volume [/B]with a 10sma -SHORT when 10SMA is above OBV.
Macdh 12/26/9 - short when negative.
XJO add 34EMA - short when close is below 34ema.
When the seven indicators agree - go hunting for individual stocks shorts
on resistance breaks with vol above 15SSMA avearged over 150 days.
Backtesting is proving positive.
Has anyone else worked on similiar criterea to support market setiment?
My logic behind this is similiar to the ocean swell ...being the major indices and then catching the smaller waves in the same direction as the swell.