MANY now argue its worthless.....I think they aren't very well informed.
IT bottomed in 2002 early 2003 and rose into 2007-2008, bottom early 2009... if you went long this trend when it rose and exited when it topped.....couldn't complain.
We don't have to use it, never ONE thing for timing, but currently what is troubling is it falling wedge pattern in the face of the ongoing RALLY. Higher low and LOWEr highs.....this will break and will give us good clue to economy and markets I think.
D
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