You've seen this indicator many times before so I probably don't have to explain it. a 1-day sell signal is pretty powerful, a 2 day sell signal is very powerful. There are 1 and 2 day signals in all of the major averages.
S&P-500 1 day sell (orange) and buy (green) signals
S&P 2 day
Dow-30 1 day
Dow 30 2 day
NASDAQ 100 1 day
NDX 2 day
Russell 2000 1 day
R2k 2 day
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