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Here is a simple chart showing the time I was away and what the market did in that time:
To refresh you’re memory, back in spring, I wrote that based on what I was seeing in sentiment and the technical analysis tools I rely on, that the market had seen a major intermediate low.
And although the market did indeed manage to pull itself up, the rally was short lived. It was as if the market was made of ice and the increasingly hot summer weather was melting it drip by drip. Until finally by the time July rolled around we were below the spring “major” intermediate low.
So what happened? In the coming days, I’ll go into that but in broad strokes because to go into it in any greater detail just wouldn’t be practical.
Although my interpretation of things back then have been proven wrong, I’ve never shied away from holding myself as accountable as I hold others. It isn’t just a point of honor but one of the best ways that one can hope to learn and improve.
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