No, you're just trying to protect your reputation, regardless what you might have posted on your site after I posted the chart, you still said it was not distribution and not dangerous, I think price action says you are wrong. Nothing indignant or foolish, and you think you know everything, well you obviously don't, just back-peddling to save your image. If you still think this is nothing but a blip, and new ATH'S after, that's fine but no one here or anywhere I know is interested in taking 100 point drawdowns to ultimately watch something come back, someday.
Lots of assumptions there and you continue to take things out of context.
You still never asked me why or what was the difference (or whether I've been on target all this time either) but I thought it would be instructive to do so as a matter of clarity.
The word "distribution" is so overused it would seem that very few have a substantive way of proving such technical anomalies.
YOU called me out. YOU made a post on the subject. I pointed out the differences. You became indignant on the actual reason why a change in direction might occur.
As far as my reputation is concerned, it's intact and doesn't need any further pimping like some here on the board.
You prefer to do it your way, that's fine too, but at least understand what you're talking about as not to look foolish.
When I was finally asked in another thread what my analysis was back on September 21st, I added this to the thread which I wrote a full month ago on September 7th:
"So with the BETS moving sharply lower this week to a +10 reading, we are now back to a "neutral, cash position" trading stance for investors. With many of the breadth McClellan Oscillators still supporting patterns of rising bottoms, the abrupt weakness that we saw in the interest rates sensitive issues last week did break the divergent bullish back of the NYSE Composite breadth McClellan Oscillator on Friday. This now suggests that it's unlikely that there will be any further rally beyond September OPEX on the 21st and that there is likely to be some bearish turbulence as we go into the beginning of October as the market internals find a way to construct a new platform. Because of this then, traders and scalpers are back to playing "hit and run" with their daily trades, while with investors it's likely that we'll see the markets firm for the next couple weeks providing exit points along the way for any open long positions."
http://www.traders-t...arket/?p=788195
I now challenge you (or anyone else) to show a better timely forecast anywhere in the business. Oh, and did I mention, I used that darn NYAD line, a measure of liquidity, to help in making it?
So although you also made a timely call September 27th, you did so not so much for the wrong reason on a cursory level, but you continued to misunderstand the significance of what was actually being represented. This is why you still have problems working with this indicator, and though I have tried my best over the years to help you and others to see the light, I guess one also has to have the ability to be open to concepts that may only look good in their personal theory.
Now have a nice day...kudos on the call.
Fib
Edited by fib_1618, 05 October 2018 - 03:32 PM.
