Posted by mastermind on 18th of May 2022 at 06:34 pm
A comment and a question.
IBD called yesterday a rally confirmation. I was surprised and
thought it might go awry. Now I wonder how long it takes for them
to say we are back in a correction.
Having said that, an older chart I have shows the period from
now through the first week of June being historically bullish.
Can anybody with more recent data tell me if that is still
the case? I know that every year is different and these historical
numbers are no guarantee.
Posted by kevindeng0727 on 18th of May 2022 at 07:07 pm
Just disregard anything on IBD except David Ryan and a few other
(occassional) guests on IBD live... Their call on market is totally
useless, even Follow Through days nowadays almost have a 50%
failure rate. They are no longer the 'O'neil company'
Absolutely right. See David Ryan's latest vid on Youtube. (Even
way back when, O'Neil said about the IBD newspaper calls. "I need
to get downstairs and talk to those guys." haha
Posted by kevindeng0727 on 18th of May 2022 at 07:09 pm
One more note is they changed to rally confirmation because
yesterday was a 'follow-through' day. When there is a
dirtibution day right after a followthrough day (within a week or
so and today is a distribution day), the rally has a 90% failure
rate.
After calling yesterday a "Confirmed Rally," the IBDweebs now call this an "Uptrend Under Pressure." Does anybody with half a brain, maybe even just 1/8th of a brain, see an uptrend here? #ReductioAdAbsurdiumpic.twitter.com/cNT662AQo5
— Gil Morales - The Gilmo Report & VoSI (@gilmoreport) May 18, 2022
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A comment and a question. IBD
Posted by mastermind on 18th of May 2022 at 06:34 pm
A comment and a question.
IBD called yesterday a rally confirmation. I was surprised and thought it might go awry. Now I wonder how long it takes for them to say we are back in a correction.
Having said that, an older chart I have shows the period from now through the first week of June being historically bullish. Can anybody with more recent data tell me if that is still the case? I know that every year is different and these historical numbers are no guarantee.
Just disregard anything on IBD
Posted by kevindeng0727 on 18th of May 2022 at 07:07 pm
Just disregard anything on IBD except David Ryan and a few other (occassional) guests on IBD live... Their call on market is totally useless, even Follow Through days nowadays almost have a 50% failure rate. They are no longer the 'O'neil company'
Absolutely right. See David Ryan's
Posted by brophy on 19th of May 2022 at 08:25 am
Absolutely right. See David Ryan's latest vid on Youtube. (Even way back when, O'Neil said about the IBD newspaper calls. "I need to get downstairs and talk to those guys." haha
One more note is they
Posted by kevindeng0727 on 18th of May 2022 at 07:09 pm
One more note is they changed to rally confirmation because yesterday was a 'follow-through' day. When there is a dirtibution day right after a followthrough day (within a week or so and today is a distribution day), the rally has a 90% failure rate.
Yes, I definitely believe that.
Posted by mastermind on 18th of May 2022 at 08:58 pm
Yes, I definitely believe that. By the way, the $NASI got fooled for the 3rd time in a row also.
https://twitter.com/gilmoreport/status/1527065186384760832?s=21&t=B1_3UsYLwE6UgAddpbNxhQ After calling yesterday a "Confirmed
Posted by kevindeng0727 on 18th of May 2022 at 09:16 pm
https://twitter.com/gilmoreport/status/1527065186384760832?s=21&t=B1_3UsYLwE6UgAddpbNxhQ