Hi Everyone
If you were long the indices (and TRADING WHAT YOU SEE!) you'd have been well rewarded as the Dow, S&P and Nasdaq followed through with their respect breakouts, with their respective OVIs all positive now as well.
Now, there are times where I have a strong opinion as to what's going on and about to happen, and there are times where it's more challenging to be so clear. When the planets line up, the OVI is the key factor as you've seen during key moments in the market.
We're currently enjoying a retracement from the big drop we sustained from 26 April to 1 July. We have retraced pretty much 50% of that down move, both in terms of price and time on the S&P and the Nasdaq, and we're not far from a 61.8% retracement on the Dow.