PSA Hound of the Baskervilles signal

Mar 17, 2016

After the fed meeting on Wednesday announced they would not continue to raise rates, PSA zoomed to new highs. Ignoring the MACD and RSI divergence. This is a rare signal named Hound of the Baskervilles signal after the Sherlock Holmes novel. It is an incredibly strong signal that indicates something fundamentally is changing in the market. In this case it seems the market is bullish on PSA after being reassured in the short term that the fed would not raise rates. I read this as an extremely bullish indicator.