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D.B.
Hi Ike, how are you doing?
I.I.
I am doing well, thank you.
D.B.
Last time you concluded the interview by
saying that:
"
We don't have that yet. Given the plethora of
negative divergences, we must conclude that in the short
term the greater risk at this point is on the downside,
but the fat lady hasn't sang, yet."
Since
then, the markets declined for six
consecutive weeks, and then in mid-August
they reversed and turned up. In your view,
where are we now?
I.I.
We are at the point where the "fat
lady is singing" but she is not done
yet, that is where I believe we are at!
D.B.
What makes you say that?
I.I.
I get the same message from the majority
of the indicators that I look at. There
are some such as the Volatility Ratios
suggesting that a pullback is imminent.
I.I.
On the other hand, if you look at the
RYDEX cash flow ratio, it just turned up.
We see the same thing across the board.
The short term indicators point to a top,
but the intermediate-term ones,
suggest that the markets ought to be able
to hold on for a bit longer.
Let's
take a look at the rest of the charts.
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