March 2005
Intermediate to advanced
264 pages
6h 55m
English
Content preview from Technical Analysis: Power Tools for Active Investors
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MACD and the Four Stages of the Market Cycle
As a final note regarding the MACD, we might observe that its patterns, which are relatively smooth compared to most market indicators, provide suggestions relating to the four stages of market cycles. Chart 8.22 illustrates the related concepts.
Chart 8.22. New York Stock Exchange Index: 2002 MACD and the Four Stages of the Market Cycle
The smooth patterns of the MACD frequently provide clear indications of the four stages of the market cycle.
As we know, the accumulation of long positions takes place generally during the latter half of Stage 1 or at the onset of Stage 2. Positions ...
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