In the past 3 years, this proprietary indicator signaled a market top when it dropped below 0.40 (click on graph to enlarge). This gauge declined decisively below 0.40 in the past few weeks. Is it sending a sign of caution?
Something to keep in mind. Market rallies lasting several weeks took place when this indicator was above the 0.90 level.
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George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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