Re: Bear Cave 2 (Bull Allowed)
A updated comment about the W pattern....
https://twitter.com/SentimenTrader
Notice you will see something that looks like a "W" pattern as the market tops on the chart above. (Look at the dumb money/ smart money confidence level spread) Something I have used for years in my trading. Tom mentions it too.... Now look at the current pattern since they started "NOT QE" The patterns are clear, and the trend remains up, but that is another warning indicator I keep an eye on and track. The reasons don't matter to me why we get the pattern, but the current distorted pattern is a result of the Fed in my opinion.... The MT risk level has been at a 8 or a 9 for the longest run ever based on the data for back testing..... Another extreme....
Bottom Line - The trend remains up with another rare extreme....
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
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