I was actually thinking about you as you had a sell signal at 1165.
Keeping in mind that the BETS is an
intermediate term indicator of marketplace "personality", to have a nice day higher against a just given sell signal is probably more advantageous than selling on lower prices, don't you think?
keep an eye on the blips, nymo and namo not even there yet.
Being that we were so deeply "oversold" last week that even Helen Keller could had called today's reflex rally without any real knowledge of market mechanics, I find it insightful on how certain personalities have all but embraced today's technical bounce as something remarkable because the majority thought it couldn't be done. This kind of arrogance is not at all associated with price bottoms of lasting duration.
Yup...blip resistance remains, no less, texture....It's gonna take a while.
could you extrapolate on what about today has caused this concern?
The usual suspects Senor...but today's NYSE TRIN of .13 is probably the most concerning given where it took place.
ISEE at 187 is another brow raiser, but it really comes down to the velocity of money and its amplitude.
Bottom line...anyone who's being doing this kind of thing for any length of time knows that today is but one day, and a
reasonable expectation after the market had a nasty technical breakdown last week.
We'll see how tomorrow goes..it's still a hit and run market.
Fib