Look at the extreme right in the graph below. Today the market bounced off of a very strict support level (200-Day Exp Moving Average) and closed way above its bottom.
This pattern is called a "One-Day Key Reversal" and it usually turns into a change in direction. In our case today, that would mean that the market starts back up (at least
for a while.
Time will tell. All MIPS models are Long at this time.
Paul Distefano, PhD
Founder / Lead Developer
MIPS Timing Systems
Houston
281-251-MIPS(6477)
408-234-8348
...
