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by TonieMoral on June 29th, 2010
Technical Indicators tend to go through hot and cold spells. For general direction of a stock I usually chart the last 2 years, then try to find a moving average curve that best dictates buy/sell points (sometimes 35 days, sometimes 75, depends on the stock and sector). MACD is good for finding an entry point, but so is relative strength. Right now technicals don't matter (no matter what CNBC says). These bogus support levels are just that. The market is moving on emotion, politics and bad news only. Stay in cash until 2 of these things change.
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