IBD signals Market in Confirmed Rally

"...if one tortures a dataset long enough, it will confess to anything!"

- Andrew Lo


The week's wild ride has concluded, but you might not know it by the relatively mild close had on Friday. The S&P 500 surged almost 12% Monday, suffered its biggest drop since the 1987 crash on Wednesday, and rallied more than 4% Thursday. IBD signals Market in a confirmed Rally after Thursday followthru rally.

However, Palisades Research gives a very negative reading for Monday's market and a 68% probability for a down S&P and NDX. Tim Knight has turned bullish. Dow Theory letters is Bearish. I have faded the pros and went into the weekend with several short option plays (MY favorite is an UBB option)--I lost money on my last gold option positions Rgld and AEM.