T2W as a fine place to observe CROWD sentiment aka Herd sentiment aka CROWD with application Law: the Crowd is always wrong at major turns. Rase you hand if anybody disagrees with me that 2000, 2001, 2007, 2018, 2020 has the makings of a major turn!!!! Raise your hands so I may have a good look at you. Bring your parents too. It would not surprise me that if all of you have the same Mummy/Daddy. YOU THINK AS ONE = no individuality
How to use T2W? Pick the core 30 members and then aggregate their thinking. Do the opposite. that's it.
But wait ................. have one other yardstick you can use to ascertain and confirm this EDGE.
GEt the weekly COT data. Commitment of Traders Report. Then pick you instrument of interest and observe whch way the open interest is going for the Small+Speculator traders as a group. You will see that the Commercial Hedgers aka Smart Money is always opposite them.
The value of this assessment and knowledge only comes in handy at major tops/bottoms so its ajudgement thng.
Small traders/Speculator traders are ALWAYS wrong at major turns. See for yourself with the decides charts on weekly.
What I have discovered is that its way more reliable to use this with hard commodities like Gold etc., but less reliable with softies like SPX
counter-violent, Timsk, tomorton, postie et al all belong to the Small/Speculator group = always wrong at major turns
This is the history of T2W. Its as plain as an A-B-C booklet
If you don't study history you are not getting the juice of financial markets as .....................
PATTERNS REPEAT OVER & OVER AGAIN ............... HUMAN NATURE NEVER CHANGES
Learn dummies, learn, the way thngs stand right now, T2W guarantees DEATH for all newbies and will have lawsuits galore in the BEAR. SELL now and get the fk out and hide!