I am not sure, while price wise the action today was not great, there was an interesting developing divergence between price action and the "internals". I need few more days of that kind of action to become more positive on the market. It is a little puzzling, and I which that outliers in the P/C ratio was not there to obfuscate the issue, but you got to lave with what is, not what one think should be.
Thank you... I would also be interested in if these possibly improving internals (yet to be determined I know...) are something you are viewing as a shorter term observation for another ascent to the NT highs (or beyond), or, if it plays into the longer term (the next 4-6 months) of GN-03, which may alter its model. Or both?
I believe that a waterfall decline in the US equity indices is still imminent for three primary reasons. Conspiring to make this case are the current extreme equity overvaluations, the glaring lack of a technical sentiment bottoming signature before the war rally launched, and the powerful technical sentiment topping signature just witnessed this week. Considered together, this triad of evidence in favor of the bearish case is amazingly compelling.
Apologies for my other post responding to this post; I think I understand now. Needing more input from Mr. Market in order for any deviation of the original battle plan of GN-03 to take place.
And since most all things are possible, most everything can/will change depending on circumstance. I guess what I was trying to sense from you, was a "measure" of how much things may have been righted. Perhaps it isn't measurable at this time, which points to not enough significance.
Zeev, it does look like some internals are improving as you have said. But the Turnips have spoken at length of tic/trin problems. Yesterday tho volume was light, there was a NYSE trin that was over the 1.25 marker and rising especially after 12:30 pm. During this time the tics were barely negative and only briefly. I had thought that this type of relation was a sign of distribution and made all would be farmers beware<G>. Could you help me understand what I am missing. Thanks, Rick
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