EOD: Could still require another wave down to complete at 2955- 2986 zones or simply a retest of the current low at 3005. Hopefully, that would give a weekly decline in breadth that might set it up for a top to arrive higher up on ES.
Another day or two of declining breadth averages would set up a divergence to form so that a hit on Y may precipitate a short term decline in the market.
Expectation going forward is that moves will generally be 'bigger than normal' so the scale of movements will deceive price watchers which is what has been occurring for a while now with alternating panic and then exuberant headlines quoting price moves in the market major indexes. Wrong approach- we use empirical vector moves and let prices fall where they may. The same empirical vector moves and signals will apply equally to huge price moves as well as lesser ones. As long as we perform the analysis accurately, the process is a superior way to disseminate the rise, fall and reversals in the market.
1918 Pandemic Did Not Tank The Market!
See Critical Long-Term Review Here
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