User: fiboman: Golden Opportunity Trading: xvg 20.04.16.png

xvg 20.04.16.png


A kind reminder to all bulls: Geometric Index is in a clear downtrend, probably almost ready to complete wave II 4/20/16
From Wiki regarding significance of this index 
The geometric mean has from time to time been used to calculate financial indices (the averaging is over the components of the index). For example, in the past the FT 30 index used a geometric mean.[10] It is also used in the recently introduced "RPIJ" measure of inflation in the United Kingdom and elsewhere in the European Union. 
This has the effect of understating movements in the index compared to using the arithmetic mean.[10] 4/20/16
Thanks. I was not aware of this index. a .618 retraction would be around 468. and its at the 200 day average so I wouldn't be surprised the next down move soon start. 4/21/16
This index is basically the same thing as the NYSE. See my bullish chart here: 4/21/16