You know when the hacks on Bloomberg and CNBC are promoting the idea of capitulation to get the retail traders to keep buying stocks----the big boys (mutual funds, banks, brokers, hedge funds) are all short the stockmarket. They are just setting the retail traders for when the stockmarket finally drops and drops in huge amounts and there is a bloodbath.
This market hasn't been about fundamentals for many years. It's about screwing the most traders possible. With so many bearish right now, a strong bull run (even close to ATHs) would be par for the course, regardless of fundamentals.
It may not be about fundamentals, but it is about a dozen or so power-players with billions and billions in AUM and super-algo's written by computer scientists battling it out against each other. There's no conspiracy to "skin the little guy". That's a fallacy. Retail is just along for the ride, the best we can do is play the chart near term. Long term, those powerhouse's aren't gonna buy garbage and get caught when their "enemy" turns on the sell programs with more firepower. The level has reset. New all time highs, or even close, are out of the question.
NQ is bouncing as I type. Wherever it tops out going forward tonight, will be the high thru tomorrow. Maybe 12,018 And that might be a reach, but maybe not.
dow futs 174 vs 220 earlier, hmm if we flat the open I'll be in a good mood, it's random... NQ 11948 now, 10:43pm... cmon turn red. Note to self stay small size/cash overnight, agree re daytrading
Noted, Nostradamus. If you're wrong expect this thread to be revived. For the record, your billionaire buddies were buying garbage hand over foot until 5 months ago.