As price keeps trading higher traders will keep shorting causing price to squeeze higher.
CoinedByCrypto
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I do not disagree at all. Al my trying to say is... we are at the confluence zone right now and we could see a turn. Believe me I have made many other charts short term - long terme ... EW, pitch fork fib...you name it. Al i'm saying is... the chance for a pull back is here. When we'll see it... depends on smart money. They'll be the ones to start the show. Thx for your comment! Safe trading
KevinT
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Only now, It's not the smart money that are buying, But asset buy back by the issuing institutions themselves. No matter what price.
Smart money flew out in May.
KevinT
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The new game. Lend cheap money and buy back own stock. To make P/E ratio look good. So the CEO's can get their 'well earned' bonuses.
CoinedByCrypto
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Just to add to the smart money flew.... GS reports that “most investor groups” sold in May. ICI reported net sales of equity mutual funds, and etf.com reported net selling in equity ETFs.
So who is buying up here?
Possible answers:
1) “High-frequency trading HFT accounts for about 48 percent of all U.S. share volume”.
2) Bears buying to cover shorts (it’s true, there are still bears getting squeezed).
4) The “pile on” effect: folks scrambling to buy so they won’t get “left behind”
Is all that enough to lift the markets to contiguous highs?
Evidently yes.... until the fat lady sings! .
CoinedByCrypto
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Yes I agree smart money flew out in May. But what I'mt rying to say is.... it will be smart money shorting and starting the sell off.
charlie.delta.trader
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ONLY LONG -----> 2000
Mr.Josh
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news was good what do you think now?
CoinedByCrypto
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Well! We could still see the ihs target reached, but there is a lot of confluence zones in this area.. so the exact top doesn't have to be the measured ihs target. Here are 2 of the most importen multi year confluence zones