MARKET COMMENTARY: 2/12/18 by Woody Dorsey:
NEAR TERM: The Dorsey Sentiment is registering 69% Bullish today. But the most important sentiment information is that last week we had a 2%, 1% and another 1% reading. It was the week that was! It was a rare pessimistic performance. I allowed for more corrective behavior and we got it. Keep it simple: This was profiled to be “Clipper Correction” type decline. That is, sharp but not durable. This week was ideal for a termination. I have carefully reviewed all of the trading indicants over the weekend and I conclude that there are high odds that the Low has been registered. This dovetails with both the VIX and the Treasury trading profiles as well. That does not mean stocks are a screaming buy but the overall profile now fits with the new projection for bounces into early March. If you really want to be short, it may be best wait for that timing zone. Meanwhile, Traders may keep trading this market but without any Belief structure. It would not be surprising to see some deep pullbacks maybe late this week. Stocks are far from simple here. Take it one hour or, one day at a time but be careful about consorting with Big Bears….or, Big Bulls.
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