Bubble times are here again....cha cha cha Look at that RSI....how lovely. Everyone is going to be super duper rich. Retirement accounts are literally printing free money Market is printing unlimited millionaires. And people will now just sit home collecting free money from wallstreet as they just buy high and sell higher. Zero risk all reward all the time!
In extremes like these you have a huge asymmetry by trader type - there's non-leveraged high quality buyers against leveraged shortseller speculators who keep calling the top just to get stopped out over and over again. Plenty of examples of the same type of "extremes" that have run much much higher, most recent one was in 2017 and you can see the same pattern where market started to go completely one sided from Sept-Oct and went over 20%+ before collapsing in Feb 2018. Here's a chart:
buy high, sell higher doesn't work; should have listened to the maxinger's price action idea , then i'd have had beef diner tonight like S2007S;
Interestingly, India's Nifty Futures & Sensex went down significantly (2.3%) on the 20 Dec 2023 Asian session Then the US index futures were down about 1.5% on 20 Dec 2023, the US session Lately, the market has been rather dead. Now the market is moving massively; that is a good Christmas present. Hopefully, Santus can give us a thick slab of Wagyu beef over the next few days. Who knows, the market will be dead again next week due to the major holidays.
%% OK\ try it on daily charts works/ real welllll medium + long + Longer term................................................ Prefer venison myself.