Apparently setting a new high by a few points is proof that this market is about to sky rocket and all the bears are big, poor losers... oh poor me :(.
Very interesting data point we have there. Lets see how the hopes and dreams investing strategy works out for ya lol.
Living within the lazy, manipulative constructs of 'Bears vs Bulls' will always put you at a disadvantage in stock trading. It's like 'us vs. them' sports mentality and conservative American mentality and Wall Street uses it to part investors with their money in the same way sports teams part fans with their money.
Anyway, we got a x sell cross on about one week time scale. Usually is moving down and they cross in the middle, here continued it's rise too with a sharp, clear breakthrough.
How do we know it's sell and not buy? Because the high positioning and downward trend.
Look at and RVI, pretty strong sell. RVI can function as a leading indicator for and continued trend decline and incline with RVI already under strengthens our case every day it's not broken.
resistance still holding steady, how is that not terrifying for bulls? It's looking for a trend change too.
The weirdest here is the TRIN which I forget what it means but basically 2.0 and higher is panic selling behavior and we flipped from panic selling to soft buying, still not very encouraging here. Has BULL TRAP written all over that shit.
Wait for Friday people! As always best of luck bulls ;).
Why are bears so frustrated? Sideways market aint too bad at all, bull stocks balance the shorts and vice versa.
Seems a relatively simple balancing act while we wait for the inevitable.
Just waiting for that final feather to land and collapse it all, love my position :).