This is one of my favorite methods of analysis. I like to stay aware of the MACD levels relative to historical norms.
The Green arrows represent bounces from this level that happened in the SEP/OCT/NOV time frame.
The black arrows mark bounces from this level at other times through a year.
The reality appears to be that when the MACD is pulled down this far by the investing community, there is usually enough ammunition for a big bounce. The S O N months, have 17%, 22% and 28% rallies from this level.
The other months produced rallies of 15%, 10%, 7%, 15%.
The market has been quite resilient the last 3 days so someone is buying the intraday lows. . . .
Not sure yet that I do agree yet, but you have to stay flexible in this business, or you will lose your shirt.
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