Analysis of the Stochastic Indicator
A lot of trading information can be gathered from the shapes & duration of the market tops & bottoms of the stochastic oscillator indicator.
The amount of time that the price stays over-bought or oversold is an important factor when analyzing the strength of the market trends.
Stock Index Market Tops
Narrow market top that does not reach very high above 80%
Narrow market tops mean that the bulls are weak, and the Stock Index bears have over-powered the Indices bulls very quickly. This means that the Index bears may push the price further downward without much resistance from the Stock Index bulls.
Very high, wide market tops
Wide market tops mean that the Index bulls are very powerful a lot more than Indices bears & the ensuing short-term trend reversal (retracement), will be very short lived. The retracement on the stochastic oscillator trading indicator won't even reach the oversold levels before the stochastic oscillator indicator moves back to the over-bought levels.
Stock Index Market Bottoms
A narrow market bottom that does not reach very deep below 20%
The narrow market bottom means that bears are weak in their attempt to push the price down, Indices bulls have gained control of the price pretty fast so the price movement upward will continue for a while. And the upwards market trend will continue for a while.
Very wide, deep market bottoms
A wide market bottom is a sign that the Indices bears are very strong and the Indices sellers are in control of the price, thence any retracement upward will not stay for long.
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