FA, I do see the possibility that the rug could get pulled out from underneath this market. All I'm saying is that at this moment, the setup is for a rally and downtrend lines are starting to break. Therefore, the bias should be bullish until proven otherwise. If the rally fizzles or even shows signs of fizzling Thursday, Friday, or early next week, then the bias will switch to heavy bear.
I'll say it again. Hurst analysis is worthy your earnest study, and Airdale's and Cash's opinions are ones to be reckoned with. They are occasionally wrong, sometimes confounded by market action, but in the long run, you will do well not to bet against them. I do not make these comments idly.
I see that you, FA, have natural talent and are likely to stick with this business long enough to verify whether what I'm saying is true or false. As the market action affirms Cash and Airedale over and over again as the years go by, I can assure you your respect for Hurst cycle analysis will grow. If Cash and Airedale happen to be wrong this time by being a bit too bullish, do not use this result to dismiss their opinions or especially not their method. They can and will be wrong on occasion. When they are, they will adjust immediately with an objectivity that demands respect. Then if you will stick with them over the months and years, you will see they are right more often than they are wrong, and they are often right in the face of all obvious fundamental data.
I hope you will weigh these words carefully and choose to measure them against experience as the months pass.
No bias,
Black
AI
