studying stock market trends
Bullish daily signals are back
The market was up and down on Friday, but bullish signals dominated the daily charts of the Russell 2000 by the end of the day. I have not taken action yet, but it looks as if I will need to do so on Monday. I have been allowing to 115.71, the peak of the first bearish signal in the series.
I started looking at a faster RSI Trend study today that works pretty well on daily charts, but not on the weeklies.
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Financial markets are predictable because segments of price action fit together in a limited number of patterns that are not random. Markets are unpredictable too because there is enough variability in the patterns to hide the trend at some stages of development. I am fascinated by the market and spend a lot of time working to identify price trends so I can exploit them for profit.