Summary of this report–Market Bias: Bearish from 04/18, looking for a low in early May. The SPX dropped 120+ points and made a low on 05/03.
MARKET COMMENTARY: 4/25/18 by Woody Dorsey:
NEAR TERM: The Dorsey Sentiment is registering 3% Bullish today. The near term profile allowed for a nasty break into 4/26ish and further weakness into early May. The simplest way to view this is that the expected top 4/17-18 resolved into a new tactical decline which still has time to run its course. This says nothing about the boundaries of the existing range. As always, Trade the market without expectation. Thank you Mr. Market.
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