PT's quote
"From a technical perspective, I agree with you 100%
My view, however is that when there is a significant change in market sentiment, the technicals are no good for determining directional bias... only for entries and exits.
Today's directional bias will be determined at Bernanke's speech. It may match the technicals and it may not. Time will tell.
I only post this as an opinionated view which is not shared by everyone. Some traders swear that the technicals lead the way without fail. I swear that neither the technicals nor the fundamentals can, do, or ever will lead the way without fail, but it is rather the market sentiment that does, and that is not the easiest thing to decipher. However, it is a fact that in the mid to long term, the underlying fundamentals always rule."
__________________
So many wise words in this.
"From a technical perspective, I agree with you 100%
My view, however is that when there is a significant change in market sentiment, the technicals are no good for determining directional bias... only for entries and exits.
Today's directional bias will be determined at Bernanke's speech. It may match the technicals and it may not. Time will tell.
I only post this as an opinionated view which is not shared by everyone. Some traders swear that the technicals lead the way without fail. I swear that neither the technicals nor the fundamentals can, do, or ever will lead the way without fail, but it is rather the market sentiment that does, and that is not the easiest thing to decipher. However, it is a fact that in the mid to long term, the underlying fundamentals always rule."
__________________
So many wise words in this.