Originally Posted by
Billy
Daniel,
You are correct with your quote, but the key notion here is “long term”. I wrote that sentence in the context of the weekly stages analysis which is changing very slowly with only one new set of data each Friday after the close. So, ''a very negative long-term breadth development that doesn’t bode well for a sustainable rally'' is not negating the possibility of a rally on the daily timeframe and simply emphasizes that such a rally has a high probability of being short term in nature. It is still too early to know if Tuesday was a turnaround or just another minor pullback in the emerging rally. Tonight’s reaction to the EU summit news will of course be the final referee.
The robot is neutral and objectively telling us that he cannot have confidence in the current market environment (non-stationary, see my other post in the VIT Forum) for initiating any high probability trade in any direction.
Billy
Posting Permissions
Reply With Quote