23 Oct 2015 - I Can't Believe Its Not Butter

Price slices and dices and spreads the Moving Day averages like it was butter.  WoW...  So Should be be Bullish?  Unfortunately, my indicators still states bearish and prices can seem bullish and it could also well be a bullish formation, but while the signal says bearish it is imperative to stick with the signal with conviction.  If the signal does turn bullish, that is when we will turn bullish as well.

Second waves can have this feeling of angst as discussed on previous blogs.  In fact, they can retrace all the way up near the start of the decline.  This is why even though we are bearish, any ST signal that is against the trend should be the trigger for the exit of a position, and only re-enter when it is back in SYNC.   The other day I mentioned that as long as our intra-day indicators is out of the OS range that a bullish sign still exists.  This is still the case and being OB just increases the chance of an impulsive move to the upside.  Perhaps it would end soon, but we need a confirmation as always.

This price move since early Oct. is very impressive, but remember that moves like these are more common to the main trend, so that would be the bigger picture.  While it is great or even gratifying to make profits such as this, a reversal would certainly clean up all that profit.  Open a chart and see for yourself.

SEN: Bearish
ST: UP
PA: UP

NOTE:  For those who think this has been a 4th wave all-along,  well sorry to break it to you but that has been nullified.  This is why we cannot get married to a count, and be open to the other possibilities.