x^

What on earth does that mean?

MACD x^

I often get questions regarding some of the info that I provide in my charts. Given the nature of the character limit in Twitter, I have to get creative in my abbreviations. In the case of the line above, I am referring to a "cross up of the MACD indicator". A recent example can be noted in MIPS (Mips Technologies Inc).

One of the frequent trades that I look for is the MACD cross up. It works with incredible reliability, and is a trade that I can find on a daily basis. In the case of MIPS, the cross up occurred on 12/10/2010, and was confirmed today 12/13/2010 (next trading day).

This cross up of the MACD does not always happen at the bottom, so be mindful of that.