Hi Everyone
A concerted move up yesterday throughout the board as the US “officially declares the end to the recession” – notice I put that in parenthesis!
First let me say that I don’t have an opinion either way on that … all I’m interested in is “TRADING WHAT YOU SEE”.
In my email to you on Sunday, I suggested that the charts were saying one thing (bullish) but the OVI wasn’t playing along. In such cases the charts have to come first (trade what you see) but you simply have to be vigilant by having prudent stops in place.
This proved to be a good strategy, as it nearly always does. The charts have won out for the time being and we’ll see where the OVI is a bit later when all the data is in.
All the best
Guy