macd divergence on DJI - The Bottom?

The weekly DOW chart is showing macd divergence. Could this be the bottom? In my experience with macd divergence it does not nail turns that precisely very often but, it usually is a strong indication that the move is exhausting, at least for now. There is a very high probability that a rally is coming. There may be one or two more lower lows to shake out the current bottom pickers stops, and the rally may only be small and temporary but, it is also possible we are looking at the bottom of the crash, to which price never again returns. Thats the trade legends are made of, any takers?

I guess if you play with the MACD settings long enough you can make it look like anything you want.

With default settings I would be more excited about hidden divergence pointing to a lower market.

At this point, i would rather bet that earnings will be higher or lower than the MACD going up or down. Fundamentals will turn the market, not technicals...

I think there's reason to go down, but that the optimism in the market will overcome that reason every time. We'll see how things look on the next down day.

Divergence may extend with further fall.The price is still below its average.I think it is better if MACD jumps above the zero line.Then watch for moving averages to enter.

You just said absolutely nothing. Are you a market analyst by any chance?

Can you read? I made a few points, i just did not give a direction to the market. Certainly someone of your genius can tell us what the market will do tomorrow.

It is a headline driven market. If you want to use your techs to play it, good for you. But i'll be laughing all the way to the bank.

I believe the headlines are more useful as a contrarian indicator. The current outlook is still very pessimistic based on fundamental indicators. I would take that to support the bullish signal on macd. Although I agree it is probably premature to call a bottom just yet, The bottom will occur when the headlines are at their worst. The market will turn when least expected and rally when most participants are short. All I am saying is that macd divergence is showing us the current move is exhausted for now. If you are bearish you can look to sell any ensuing rally, if you are bullish, look for buying opportunities on pullbacks. There is a couple of thousand pips just to return to the 200 ema.
Cant help noticing what a cynical bunch of angry sad sacks we have become. How about we lighten up a little and have fun with our forum friends. It could take a few months for this signal to play out so lets keep our comments respectful and see what we can learn from each other. I would like to hear more about hidden divergence and earnings, useful tools I dont currently use. We may not pick the bottom but we can have some fun trying and even grab a pip or two along the way

Headlines are only as good as how they're read by the market. I've seen great news reacted to poorly, and bad news reacted to very well.

If you trade using MACD divergence and it works for you, then trade it. If not, then don't. This isn't really the place to rehash the old TA versus FA thing.

Looks like that was infact the bottom!