Jake,
I understand Wednesday is a key of yours...
While I don't always agree with the masses (& I'm guessing you don't either), Monday is the most important market day for the majority of brokers. If there is going to be a significant turn from Monday's indications, it usually occurs on Tuesdays.
Again, I may not always agree with the masses, but the masses can dictate the indications.
When something significant occurs (on any day), I start calling all my broker contacts at various houses to get a "feel" for the majority. Many times they continually echo one another that this "Turn Around" (houses say, whether correct or not, mostly occurs on Tuesday) is caused by ___ and indicates ___ , and I average out and take the highest percentage of answers to "maybe" indicate where most of the money is going.
We may not always agree, but they (& the numbers) usually control the $ flow...
I don't believe I mentioned "Bear" anywhere, but affirmative on a possible "correction", and that is what the "Turn Arounds" were indicating.
I'm still waiting for tomorrow morning for confirmation on today (& that would be Wednesday......
).
Best, F8
I understand Wednesday is a key of yours...
While I don't always agree with the masses (& I'm guessing you don't either), Monday is the most important market day for the majority of brokers. If there is going to be a significant turn from Monday's indications, it usually occurs on Tuesdays.
Again, I may not always agree with the masses, but the masses can dictate the indications.
When something significant occurs (on any day), I start calling all my broker contacts at various houses to get a "feel" for the majority. Many times they continually echo one another that this "Turn Around" (houses say, whether correct or not, mostly occurs on Tuesday) is caused by ___ and indicates ___ , and I average out and take the highest percentage of answers to "maybe" indicate where most of the money is going.
We may not always agree, but they (& the numbers) usually control the $ flow...
I don't believe I mentioned "Bear" anywhere, but affirmative on a possible "correction", and that is what the "Turn Arounds" were indicating.
I'm still waiting for tomorrow morning for confirmation on today (& that would be Wednesday......
). Best, F8
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