Wall Street: Ciovacco and Chart

wall street: In an interview with Market Watch, Ciovacco shared the below chart revealing an unusual technical move that points to two years of gains for the S&P 500, according to Market Watch. He refers to it as a rare intermediate shift in S&P 500 momentum that has only been seen 16 prior times in the last 70 years. However, the persistent, tit-for-tat Sino-U.S. tariff dispute that has underpinned a recent bout of volatility in stocks may matter much less than Wall Street thinks, per our chart of the day, provided by Chris Ciovacco, founder and chief executive officer of Ciovacco Capital Management. Caption outside of wrapper for normal article images Train your eyes on the black line at the bottom of the chart. When the MACD line moves below zero, as it did through the latter months of last year, it indicates investors are exiting stocks, and markets are trending down. That's the moving average convergence divergence indicator MACD a metric used by chartists to help to determine whether institutional investors are moving in or out of an asset. (news.financializer.com). As reported in the news.