Today we had confirmation of the trend reversal in the trend following model. But McClellan Oscillator is severely oversold.
So I am not sure if I should go short now.
From the TA point of view, it is quite possible that we will have a bounce and re-test of the previous high and only when such a re-test fails, we can be sure of longer term bear market.
I would like to draw attention to the last Friday's report where I had shown cases of re-test of earlier high.
Otherwise it will be a flash in the pan. Once we are confirmed of a bear market, we can expect it to continue for a while and not suffer whipsaws.
I would be busy with additional work in the office and that may lead to delays in writing the blog.
Thank you for sharing my thoughts.
From the TA point of view, it is quite possible that we will have a bounce and re-test of the previous high and only when such a re-test fails, we can be sure of longer term bear market.
I would like to draw attention to the last Friday's report where I had shown cases of re-test of earlier high.
Otherwise it will be a flash in the pan. Once we are confirmed of a bear market, we can expect it to continue for a while and not suffer whipsaws.
I would be busy with additional work in the office and that may lead to delays in writing the blog.
Thank you for sharing my thoughts.
