the first bouncing since Jan 3rd. From TA, the second bouncing shall not be expected shortly after the failure of the first one.
Today's gap down hasn't knocked out most trapped longs yet, so far, the big down vol came from the selling of big bear MMs old positions, while longs who chased during the election rally are still suffering. The gap down is often a signal of closing door action, which will usually cause consecutive panic sales. I would start some short position now.
Today's gap down hasn't knocked out most trapped longs yet, so far, the big down vol came from the selling of big bear MMs old positions, while longs who chased during the election rally are still suffering. The gap down is often a signal of closing door action, which will usually cause consecutive panic sales. I would start some short position now.
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