Bear Market? Crash? ES will likely finish the week closer to 2900 than 2800, imo ... I base this on the PA visible on a daily chart.
That was March 8th, and the market has not traded below that day's close and has yet to trade even a lower high. How long do we wait for a lower low before you would say the signal was FALSE?
Al used to use several time frames which makes it a lot easier to determine trend from range. Not sure why he went to the 5 minute exclusively other than he might read a lot into intra bar PA. I know Mike Bruns was good at that but he used multiple time frames. Using one time frame seems to me kind of like driving without side or rear view mirrors, but whatever works for ya.
That is sad, and I am sorry to hear that. I have a friend, also a trader, who is battling stage 4 gliosarcoma right now. I did not know your friend. I am something of a student/historian (a bumbling amateur, if you asked me) of trading. I remember running into Mike Bruns's name a few places and when I first saw one of your charts I immediately recognized his influence (how many folks would think to use a 30 WMA anyway?). Mentors are good to have. I had one early on, but we've sadly been out of touch for quite some time. I am to blame as our contact was all internet/email and I go through periods of time where I completely disconnect from the net except for my trading platform. I disconnected and failed to keep open the line, much to my regret. I am very sorry for your loss.