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I use the weekly 13/34 cross as a long-term indicator. When the 13 is above the 34 it is okay to be long the broad market...when it is below it is better to be short or in cash, in my view
Plotting stochastics 5,3 on the $NYSI is a pretty reliable intermediate indicator of market direction...when the stochastics cross the signal line at the top of the range a good chance for an intermediate correction develops and when it crosses from the bottom of the range chances are good for an intermediate term rally
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