• According to StockPulse’s previous research in this area of DAX and MACD (Moving Average Convergence/Divergence), the MACD model is an effective indicator for signal generation based on sentiment scores.

• Therefore, we are applying the same model with the same settings to major indices of the US market. Although using daily sentiment scores, which have delivered the best results for the DAX, but only showed poor results related to the US market.

• Even though, we do not have a final proof, we attribute this to the different data situation we have found for US markets available as opposed to the German market situation.

• For the Dow Jones and S&P 500 Index, the adjusted MACD achieves a Sortino Ratio of more than 2.

• Applied indicators on StockPulse’s emotional data especially outperform in bearish markets.

• As a result, we find that using the adjusted MACD without window for the Dow Jones and a moving average with window for S&P 500 respectively achieves best performance.