I have been watching this indicator with interest. It is clearly giving a sell signal. This is the only one indicator, however, which is bearish in my book. Mark, what are your other indicators saying?
Thanks
Denleo
Hourly trend down.
Daily trend up
Weekly trend barely up.
Breadth positive.
ARMS, showing more selling than is healthy. Possible distribution.
Hedge fund sentiment is in Sell territory and Hulber's HSNSI and II are too and has been for some time. This is enough to support selling, should some show up. The rest of the sentiment is fairly neutral contextually and benign nominally.
We're in no-man's land, and we just have to let price tell us what to do. That or make your guess and let price tell you when to stop out or add.
Mark