The reason we’re dropping today is “ the highest professional shorts in 10 plus yrs “ has been broadcast 1000 times . Everyone wanted in long on the squeeze . It backfired and they got stopped out long .
Time will tell . Although bank earnings were considered very good today . Were in a very tight range and have for weeks . If we get to 4030-4050 I’ll entertain a short to hold longer than 1-3 days
moving stop to BE edit: out BE. Went +10 in my favour very fast, but gave it back even faster! flat for now
I think today's the day to call the top. We pretty much reached to upper end of the range at 4200 as expected. Now we go right back down to the lower range, which stands at 3900-ish.
I don’t see this yet, but won’t surprise me though. I agree with yo-yo assessment going forward, but this is mostly to mask stealth bull market.
why would the market stay in this range? Statistics up/down stay 50/50 imo it’s just my view, as soon as you can identify a range”, miss break ‘em “you can replace range by any chart pattern
the contrarian trade was so contrarian that the trade became contrarian to the contrarians. that's deep.