In my 7/27/11 call, I said " two bullish interpretations hang by a tread and one or both may be eliminated within the next few days, leaving no bullish counts". If you've been following along with my 2007-2011 analogy, this comes as no surprise. However, I feel that I'm obligated to present an objective and unbiased assesment of the market and let you decide for yourself whether the evidence is compelling to make either case. Given that.....
..... during the ON session, the running flat interpretation was invalidated by printing below 1291.25. I'll be monitoring the intraday progress of the markets and update readers with any new developments.
Make sure to watch my weekend video where I will be updating the 2007-2011 analogy as well as my weekly and daily counts.
Best of Trading
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