The rally is strong enough that the market is likely transitioning into a trading range more than a strong bear trend.
This means traders should expect the bears to be disappointed with the rally. However, the bears will expect a 2nd leg down after the formation of a lower high major trend reversal.
It is a low probability that the bears will be able to get a strong second leg down without the low-high major trend reversal.
This means traders should expect the bears to be disappointed with the rally. However, the bears will expect a 2nd leg down after the formation of a lower high major trend reversal.
It is a low probability that the bears will be able to get a strong second leg down without the low-high major trend reversal.
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