Quote Originally Posted by mscott View Post
I am constantly reminded that the market does not care what my opinion is, so I will go with the flow if the market wants to stage a major rally here.
Thank you for the update. I am constantly reminded by the market that it's not important what I think as well. I know you look at P&F based on some previous work you did here. May I suggest you look at the "standard" P&F chart for the NYSE (my favorite index for this type of analysis) and you will find that sellers appear to be holding fort at the bearish resistance line for a few days now. I am more familiar with the TSX (Canada) index which is showing the same. The NYSE bullish % is neutral (48%) and so if the bulls overcome that barrier, watch out above.
Thank you for you analysis