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Well – I don’t feel like I’ve entered the “twilight zone” or that I’m residing in “no man’s land”, or living a “nightmare”!
Traders should sell at least the edges of their positions on strength – especially when $BPGDM is reading at or near 100% – for redeployment on inevitable selloffs, buying back at an area where “risk is clearly defined”, just as investors should be adding. How is this a “nightmare”?
I can certainly attest from my own experience that “technicians” by nature have a tendency to over-engineer, good intentions notwithstanding, especially given the most volatile sector in the marketplace, rather than simply observing price action.
BTW, is this a “Double Bottom”?
Nice charts RTV. We are supposed to buy the dips in a bull market and accumulate positions on weakness. When the sell-offs happen we always expect the prices to go much lower and don’t buy. When the rally occurs we expect the price to continue much higher because the charts turn bullish and don’t sell. I think we bottomed 10 days ago but time will tell.
Love your charts RTV. Plenty to think about.