Bear market rallies get most traders to take their guard down. A few days of rallying and the coast seems clear and then boom !!!! The market sells off hard and traders are left with more heavy losses. That’s the way it goes in a bear market. The bottom is not in.
Well, duh? The bottom is not in until the Fed halts rate increases or until Putin goes away. Don't you have anything not obvious to contribute?
I would take you as a counter indicator. To the upside there are bagholderw under water that want to sell break even. To the downside there are many leveraged portfolios that would suffer. So there is potential for both sides, but having you as a counter indicator, markets can only go up lol.
The US sent 5 million barrels of oil from the US strategic oil reserves and an undisclosed amount of oil to China of all places. Only one conclusion I can draw from this is to keep oil prices down with the midterm elections in the US coming in November 8, 2022. That way, Joe Biden will claim he brought oil prices down. At some point, when the US strategic oil reserves get used up, they would not have any cheap oil to flood the market and engage in their shenanigans. I will be rooting for OPEC and Russia to cut their oil production to teach these fools a very expensive lesson.