to know what others are seeing and thinking. I like to compile the opinions and then weigh them out to see which train has the ticket lines growing the fastest. When I hear the roars of "All aboard", I look for the train with the most available seating. I believe this guy has it correct with the amount of confusion that's surrounding all opinions-------confusion means sideways, swinging pendulum and good fishing for several weeks before a directional break occurs.
I understand and see what he is looking at and I also have to agree with a potential break down to retest the 67.00-67.50 area if it closes the week below 70.20-------however, his terminology is wrong, which can lead the listener to believe there is a very bearish Sink Hole opening up. My look at the charts, only tells me the undecided $5 range between 67.50-72.50 is still the current playing field. This is the time of year that sell signals turn into fake outs, unless strong confirmation areas are breached with closes. My signals(that I trust) do trigger a sell signal below 70.20 but here is the Wild Card for reliability since many sell signal are taken back the next day or next week and they have to be viewed as potential Fake Outs until Confirmed. I have nothing close to Confirmation until there is a weekly close below 66.77. I would trust that as solid Confirmation but 70.20------I would be very defensive in watching my backside. My Opinion----Yes, could it be proven wrong-----Yes. Does my analysis for signals and confirmation carry a high reliability factor-----Yes or I would have been broke a long time ago.
Here is the sad part-------have I gotten rich because of my good analytical perception for signals and confirmation-------NO! NO! NO! Many don't understand that-----how can you be so correct for getting into the correct side and at the right time------and not get RICH. After many battles and many scars------I finally realized that Survival Skills are more important than Entry Skills. Very few survive to learn that set of skills!