16 for 16 2 days out is some very compelling results.
Tuesday, July 27, 2010
Broad Strength Suggests More Strength
There is no doubt that the market is short-term overbought. Often we see extreme strength reverse as profits are taken and price pulls back a bit. But sometimes when readings are extremely strong they instead suggest further strength. That is the suggestion of the below study which was emailed to gold subscribers yesterday afternoon.
16 for 16 2 days out is some very compelling results.
16 for 16 2 days out is some very compelling results.
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Another excellent analysis, Rob. Since it looks like the Two-Day result will now be 16 and 1, does this perhaps imply a risk of a strong close into the seasonally strong last couple days of this month? Especially since July this year has been an up month. Food for thought, and my bearish positions are chewing on this food for thought.
The odds and ratios up to 5 days out are still quite appealing, from the bull side-- even more so now that some short-OB conditions have been neutralized...
Daniel
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