Market is maturing for a real pullback. Why?
I'm evening wondering whether I should buy some SDS right now in AH, however, with earnings from AAPL,EBAY etc beating consensus estimates, I'm afraid of MM may push it up further tomorrow to trap the bears who baught their position at the close today.
That's exactly what MM want to see before the decisive pullback move, especially if it's not just a pullback, they need people to buy whatever they sell.
With more and more bears trapped into the status I'm in right now, MM will start to short the market soon.
Secondly, today's move and its close is unique since the rally started in early March. Consider that it's obivious that the uptread is weakening in the past two weeks, with today's rally effort faded, especially its close at low of the day. It's hard to imagine market is able to negatate the drop the day before yesterday. Which implies, a down trend is almost confirmation in place.
It's quite obiviously to me I should add some short position right now. But as I said, I dare not to do it.
With good earnings from AAPL, EBAY (tech is very strong these days), perhaps there is something left for the bulls. So not yet, bears, be patient for another day or two.
But I still stongly believe this will be the first down week since the rally started, which means either tomorrow, or Friday, we may see a big down day.
For bears, better to so small up and down tomorrow to release any energy left for the bulls, and a decisive down trend move on Friday to end the week.
Let's see what's going to happen. I'm afraid MM may not give me time to add short position ( I mean it will be too late when I have made up my mind.
Post it as an indicator for others to make their judgement of market status.
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