I may have forgotten to mention that there was a negative divergence MACD sell signal for the Qs as of Friday 9/25/09. While I suspect that this may prove to be a false signal, for those using the MACD, it is a valid signal. The long trade has yielded a return of 13.50%. The MACD system as I have described it based on Gerald Appel's work is up 31.19% YTD, in second place behind IBD's market calls. In addition, being a negative divergence sell signal, it is also a potential signal to sell short. I am not advocating taking it as a short signal, but should the Qs fail to make a new high and form a sell pivot, it would be a good setup to consider.
According to a couple of websites, the median hedge fund return YTD is 9.95%. While this doesn't tell us anything about the best performing funds, it makes it clear that mastering the MACD would be a valuable skill for every trader to have in their arsenal.