Defensive Posture Becoming more Relevant
One measure that I follow daily, Joe Granville’s 1963 chart formula for On-Balance Volume. It has been flashing warning signals on the S&P Index since late August 2014.
Now we have OBV chart with a left shoulder on 8/29/14, a double top for the period 11/24/14 to 12/29/14, and a right shoulder defined on 3/4/15.
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