Right now, the sell signal is a short term one since it is made based on daily data. Should the market decline on this signal, I would next be looking for a three week test of the high. Should that fail, we would be starting a major move down.
With this in mind, the market may try to stage a rally at the close. Always have to be wary of the close as major volume enters the market in the final minute or so.
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Hi Gary,
ReplyDeleteGood call with the end of day rally. It seems you have a strong bias to the market going lower in the next few years. What would have to happen for you to change your position on this. I find that when I'm bias towards a direction I look only for things to support my position. Thanks, Pete Sliney
I use statistics and cycles to support my positions. Try to be as objective as possible but of course there is always interpretations.
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