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Lately, I have been a leading contrary indicator.
As for leading indicators, it depends what you are talking about.
Divergences can be leading indicators, though you must be careful since
the trend is still active, and the divergence might eventually
disappear.
Though they are not mathematical indicators, patterns are leading
indicators. Certain patterns are typically bullish or bearish.
Also, Elliott Wave, if you get it right, provides projective capability.
Also, Fibo time and price analysis can provide leading information,
without the complexity of Elliott. Divergences between open interest,
volume and price can also provide leading information on market turns.
The real question though is whether or not anybody should truly be
attempting to pick market tops and bottoms. As an analyst, I do look for
such formations, but as I trader, I rarely ever put on a position like
that, as I rather have some sort of confirmation.
Steve Poser
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