The McLaren Dip?
The description isn't particularly clear to me:
McLaren Dip Described
1 high
2 new high with in 4 to 5 days
or high probability of top is in
place. Holds for SPX only,
but can be used on others.IMHO.
It would appear that AAPL, having new highs several times recently, (1), followed by more new highs within "4 to 5 days",(2), would qualify.
What does "or high probability of top is in place" mean?
And if it "holds for SPX only", why would anyone use it for anything else?
And what is the "dip". Normally I would associate the term "dip" with a temporary drop in price, with the price going back up shortly after.
If a "dip" holds, it wouldn't be a dip, would it?
Perhaps the guy is a genius who has a hard time expressing his thoughts. Or perhaps I'm an idiot because I don't understand what he's saying.
Either way, can you help me understand what he's saying and what "Mclaren's Dip" is?
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