Monday, July 20, 2009

SPX "We knew thee well", Wait, check is there a pulse???

Stochastics have been so high so long. I am going to start removing the term "overbought" and "oversold" from my vocabulary. Like so many other "confidence" words in the financial industry that effectively get people to put their capital at risk, this is one of the offenders. Neuro-linguistics is a strange thing. The connection between our mind and the words that we use is a strong and complicated one. Using the wrong words can be hurtful to our proper interaction with the markets. So from here on out it shall be "Lo-Sto" or "Hi-Sto".

OK, the old head and shoulders is on the table and we are checking for a pulse. It's been Hi-Sto so long we kind of think that a pullback will give the H&S at least the appearance of a pulse for a while. But honestly, we don't think he is going to pull through.

1 comment:

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