1, MACD doesn't indicate if the market is overbought/sold it indicates how strong the trend is.
2, i noticed the small double top that formed but i thought since the diagonal support had being going strong for quite a while it would hold. a small double top like that would not lead to that much of a drop by itself, however i was wrong and you can say that the double top lead this reversal. :)
andmk2
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Is that a MACD on your chart. It looked overbought at the time of your prediction and there was a small double top forming in the channel.
It's easy for me to say now as the market went down, but the indicators at the time of your prediction were bearish.
2, i noticed the small double top that formed but i thought since the diagonal support had being going strong for quite a while it would hold. a small double top like that would not lead to that much of a drop by itself, however i was wrong and you can say that the double top lead this reversal. :)