The above chart is a self-created proprietary indicator and so far, has worked quite well, generating a positive return of 22% since Mar 1 2007.
Despite Tuesday short rally, it was still on sell mode and the outcome was very clear yesterday. Outlook remains bearish withS & P is hovering below 200 day MA support and testing the 50 MA weekly support soon.
Looking at the weight of evidence, any rally will be countertrend and I will look to sell into rally.
Looking at the weight of evidence, any rally will be countertrend and I will look to sell into rally.
Will update as and when there are changes.
Stay tuned.
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