What's to give up on Marketgauge? It's an array of long-established technical indicators.
One might as well give up on thermometers, thermostats, barometers, hygrometers, pyrometers, pressure gauges, speedometers, odometers, altimeters, bathometers, compasses, chronometers, colorimeters, calorimeters, thickness gauges, and spherometers.
All other measurements of the market are only different combinations or variants of the relationships measured there.
Of course, I suppose there is the possibility that technical analysis of every sort is perfectly useless. This is the point of view of many of the most successful investors and analysts of the market.
Remembering the success of the non-human technical indicators used by Wall Street Week a long time ago, I am going to continue to see what the Marketgauge indicators may tell me.
As I have said, so far they don't seem to say anything very definite. I am waiting for a massive consensus to confirm that the bear market is under way, or almost. |
