Totally agree on the predictive significance of pre-conditions, as and when clearly identified. IF Spod prices quadrupled in volume and value tomorrow morning a clear result would follow?
As you rightly say identifying multiple factors, (plus the varying reactions of market particpants who sometimes have strongly conflicting agendas) makes the task somewhat harder.
It seems that the ASX is rather like several orchestras, some fortissomo and others pianissimo, with different and clashing instruments of varying power and strength.
My own preferred role is on the pro-PLS kettle drums and trombones, but sometimes need to consider a quieter role on a small triangle.
All music can have clear definition in composer scores (charts) with complex notes and melodies, with players and conductors performing ideally in harmony, making the ensuing crescendos (crescendi?) highly predictable
That is a consummation devoutly to be wished.
So on a restful Saturday afternoon I thank you for your sublime choice of music.
If you have time here is one of the most predictable crescendi in all classical music, with a surprise ending :-
PLS Price at posting:
$3.74 Sentiment: None Disclosure: Held
(20min delay)