Finally, the “Moron Index”, a proprietary clivemaund.com indicator, has spiked over the past couple of weeks. This is carefully calculated on the basis of the number of Emails I get from people telling me that I am wrong, and laced with insults and profanities. This is usually a very reliable indicator, since such people, by their very nature, are led by cheerleaders, and thus invariably end up on the wrong side of the trade.
Conclusion: we are at an intermediate top, and recent new longs will end up being fleeced.
End of update.
Posted at 6.50 am EST on 6th February 16.