It's really hard to ignore that on the chart I posted the ADX D-has hit -15 or below 6-times since October 10, and all have been pivot highs. The first 5 readings only resulted in 7 down days (not counting the days the highs were set), but the 6th reading on Dec. 2 was a fairly significant pullback.
This indicator I've shown has nailed every pivot high since October. If it's batting 6 for 6 since that time, I'm respecting it.
With the exception of Nov. 11, every low on the ADX D- was contained by the 20 level. The 22-1/2 level has been reached twice (Nov. 11 and after Dec. 2) and breached once (In December).
I don't think the current readings should be compared with August and September. They should be compared with Jan. 2002, March 2002, and even Jan. 1999.
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