@NorthstarCharts Try instead connecting the red candle closings (ignoring the wicks), then, clone the trendline and move it out to the low wick. This is often the true TL, and helps you to not get trapped by false breakouts.
This is what I come up with.
@DaveHcontrarian@realLoganMoody And since you're slightly older than me (I hear we both have one foot in the grave!) I though possibly you developed it with him.
OK, that part was a joke. Hope you're doing well! Thanks for all you do.
@DaveHcontrarian@realLoganMoody LOL. I guess not.
Jesse Livermore used it to call the top (well, the 2nd top) in 1929.
I found it interesting that it resembles how the market has grown since 1982 and your forecasts.
9/ So far, we’re not seeing that warning sign from the labor market
Of course, no single indicator tells the full story
So, we also track corporate profit margins
Which are closely tied to hiring trends
@DaveHcontrarian Thank you for always being so forthright and accessible.
How do you expect high yield corp bonds like HYG to perform during the melt up? Would you expect a risk-on piling in in that area too?