Mtcinc0: The point in the $VLE chart is that the 40-week ma has turned up--very up. That's a message I will not discount with the brush of my hand--or a chart labeled "BRICK WALL." The latter is speculation. The up-turning 40-week ma is fact.
I'd be a fool to ignore the obvious--extreme overhead resistance. But I encourage traders everywhere to clear from their heads the analogies that clutter our thinking and decisionmaking. Brick walls, gravity, suicide jumps, all of this in my opinion, must be placed outside our trading laboratories. Price can and will do amazing things just like my tree busting through a brick wall. Price is alive.
So give me the best, clearest, most professional signal that says, "Go short now." Not speculation but signal. What criteria delivers the best, most reliable signal?
The problem with your chart is that I could put up others that give ground for equal opposite. We agree that we expect the market to pull back some. The only debate really is when and how much. 5-week low expected around June 17, and 20-week low in mid-to-late July (not taking the time now to pinpoint it). Between these anticipated cycle lows (and after), the setup remains bullish. Amazing but true--as of this afternoon. Could change tomorrow. We will see.
Good dialog, Mtcinc0!
Ted
Buyer Beware. The above advice is FREE!
AI
