I don't know who Gary Glover is. Personally, I don't listen to the news, broker reports or any FA whatsoever. I know how these "recommendations" and "news reports" aren't put out there in the media for our benefit.
I purely look at charts. I analyse the spread, close and volume associated with that bar and look for imbalances of supply and demand. I also look to the background for strength or weakness.
For example, Look at the chart below. Have a look at the volume associated with the bars that are trying to move higher. Doesn't seem like they're interested in the upside just yet. And then look at the lows, every down move is met with some solid buying.. accumulation perhaps? Or are they just accumulating at the bottom and redistributing at the highs on a smaller time frame? It's just too hard to know in a sideways market like this... that's why we should just wait for that higher low to appear before we make any judgments on where we're going.
As for our market, Since the August 8 shake-out week, we've been whipsawing around, not really putting in that higher low just yet. The pros are just trying to dislodge as many week holders as they can imo... now we just wait. At the end of the day, higher lows and I'm a bull, lower lows and I'm a bear. I just go with the flow dude...
