There is never one explanation or indicator that will signal a change in market direction. That does not stop us from trying though.
I have seen price action long enough though to know that the tides are turning at the moment and many of the momentum names are sputtering.
I have been hunting around for a good post that describes some of the subtle changes that are afoot and found this GREAT explanation from Ron Roll @gtotoy. Take a few minutes and listen to Ron’s clear thinking about the change in the tone of the tape and how you may want to position yourself:
In my show yesterday, I talk about my $GOOG mistake, oil, the US Dollar and the importance of Angel List as a signal for high PE stocks in the tech sector.
I am being a lot more careful right now with entries. Trades over trends for the moment.
That’s a pretty good video from that guy ;-)
:)..pretty close to damn perfect so much of the time that I really don’t like this guy!!
Lol I hear ya Sooz!
confirms exactly what i was feeling today (my market sense). nice job.
ATR – new one for me. thanks for the explanation.
This video was good until the Van Halen came on. Desmond Dekker? Awesome. But everything I learned when Dezzy was on evaporated once I heard thos Van Halen guitars.
From what I DO remember though, very interesting. Thanks.
-DT