But this morning is one of those "line in the sand" moments for me, in which I must disagree with someone who's much richer than myself.
Anyway thus spaketh the mighty Sloper yesterday:
I then said this in the comments section:
Anyway, it's not like I think the market will *never* rally...heck, I wouldn't be a bit surprised if we got some sort of rally this week.
But IMHO to assume a rally (EVER) is folly. (or a breakdown of an uptrend I might add). Trends are trends because they KEEP GOING!!
Maybe the defining difference is that Tim places great importance to Fibonacci fans. I think Fibonacci's are very entertaining in retrospect, but difficult as a predictive tool because it's hard (impossible) to know in advance which theoretical support level will become an actual support level. But that's just me...folks around the Slope just love 'em like biscuits and gravy.
Anyway this morning futures are down hard again this morning. I'm going to work soon; let's see how this plays out today.
Anyway the intellectual battle is at hand:
The Bouncy People Vs. The Trendoids!
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