the Breadth picture is still showing lower highs for the "green" NewHigh20s and the Buying Pressure. The Cum. Curve looks flat. All in all the assessment is neutral.
I have literally stopped analyzing stock market now. I have been using TA for nearly 2 decades and have developed my own sophisticated systems with back-testing that have sailed me through the last 2 decades. This last 1 year and especially last 3 months have been the worst times for an analyst because it seems "logic and analysis" don't work anymore at all. Each day its a groundhog day, we open up and close green. I don't even recall when futures were actually RED. I am now completely giving up on any analysis and am near quitting trading on short-term basis. I have my investments in Bear ETFs and will wait for as long as it takes to make profit out of it, which i know i will, if not tomorrow at least before next year end. Each day i saw these EW theorists, they just kept chaning their counts each and every day for the last 3 months. I mean, this isn't how you do trading. Overbought/sold, TA/fundamentals, everything is out of the woods now.
There is only one stock that is trading below F/w P/E of 20 and yet all the analysts come up with another 15-20% rise for the indices in the coming year. I am not even talking about the "mark-to-myth" or "fantasy chip selling by intel to aliens".
Leaving aside all those things, i still love to see your blog as it is extremely comprehensive in nature and offers good insights.
I have literally stopped analyzing stock market now. I have been using TA for nearly 2 decades and have developed my own sophisticated systems with back-testing that have sailed me through the last 2 decades.
ReplyDeleteThis last 1 year and especially last 3 months have been the worst times for an analyst because it seems "logic and analysis" don't work anymore at all. Each day its a groundhog day, we open up and close green. I don't even recall when futures were actually RED.
I am now completely giving up on any analysis and am near quitting trading on short-term basis. I have my investments in Bear ETFs and will wait for as long as it takes to make profit out of it, which i know i will, if not tomorrow at least before next year end.
Each day i saw these EW theorists, they just kept chaning their counts each and every day for the last 3 months. I mean, this isn't how you do trading. Overbought/sold, TA/fundamentals, everything is out of the woods now.
There is only one stock that is trading below F/w P/E of 20 and yet all the analysts come up with another 15-20% rise for the indices in the coming year. I am not even talking about the "mark-to-myth" or "fantasy chip selling by intel to aliens".
Leaving aside all those things, i still love to see your blog as it is extremely comprehensive in nature and offers good insights.
Keep up the good work and GL.
Jason