A Dangerous Place To Be?
Today's chart is seen everyday by our paid subscribers (It is found in Section 4, Chart #3.)
A key aspect for this chart is whether or not it is above or below its support lines.
When this indicator is above the support line, the market is pretty resilient relative to more upside movements.
However, when the support line is broken to the downside, the market experiences a pull back or correction.
So, where is this indicator now?
It is slightly above a support line and testing it. This is a dangerous place to be, because if it falls below the support line, the market will eat the profits of those who are still long.