Now that the back ground is in place here is the updated version one week later. This is/was NOT a bull or bear post from the start. It was about what ONE indicator was going to suggest IF a certian set of conditions happened. The result is in the chart below.
I am reposting the first response to "fib's" post about a "melt up?"
My statement was that based on my analysis of the BOP indicator, price had broken above "its" yellow trend line. IF & IF the BOP broke above "its" yellow trend line then based on past opinion (my analysis) the market would, high probability, move higher and faster. The suggestion is IF & IF the BOP does not break "its" yellow trend line we would get a correction, NOT a crash.
You be the judge and jury.
Fib
My chart is not as fancy as your's, but it suggests we will know soon. The BOP (money flow) will break the yellow TL, as price has, or it will turn down. If it turns down odds are we get a correction, not a crash. The judge is still sitting on the bench and the jury is still out, JMO.
mss
Below are two long range charts, please look at them close and notice the areas of price action to the areas of BOP movement. Lag time is a factor, the first chat posted gives a better view, my opinion, of price/BOP relationship.
Nothing more, nothing less. You judge for yourself.
Best to you and may all your dark "rags" have buttons and bows.
mss
Therefore the BOP failed to break to the upside of the yellow TL, and broke thru the red support so a correction started. How long and deep, TWT, watch the BOP, it will signal a suggestion.
Best to all.
mss
