ACI CEO Todd R. Walsh was recently quoted in the Daily Mail. Here is an excerpt below:
“‘Death cross is one of those terms that gets people’s attention but it’s important to put it in a broader context,’ he said.
‘When we get a death cross on one index, we have to take it into the context of what else is going on.’
He continued: ‘If you think of 20 people sitting around a table at a board of directors meeting and one of them raises their hand and says “I see a death cross”, but the other 19 are showing positive readings, you tend not to give a lot of weight to one negative technical reading.
‘You cannot put too much weight on it. You need it to be within the framework of a consensus of negative indicators happening concurrently, and we’re not seeing that.
‘Not only that, but the death cross that we’re seeing on the Dow Jones, it looks more like a touch-and-go. It looks as though it is just touching and going up, rather than plunging.'”
Click Here to Read the Full Article in the Daily Mail
