I wanted to post a lot of charts tonight illustrating what I think of as “reversing action”, but then decided not to. You all saw what happened today, after all that masterminded Sunday Summers announcement many of the indexes closed way below open and some, such as Nasdaq Comp – promptly went into the red down…
In DeMark-ians terms – many indexes/ETFs/futures even though they opened way above corresponding TDRSs – they closed below risk levels. Some, such as DOW Industrial – reversed precisely at TDST.
SO, no matter what I will say I will only reiterate my bearish stance, so I will remain quiet from now on … for tonight…
