It's just institutional demand at the moment...wind in the sails. Half the market tested yesterday's close or major S/R right at that time, so buyers looking for a time to buy, bought....there were a lot of them.
The part I really love is... "it's the buy the dip scheme, you feel me" LOL, doesn't get any better There's a couple here trying to short tops.
My signal oscillates between long and short, so I'll stiff sniff around for the short side after the indexes stall out for several days. There haven't been many pullbacks since April began, but NQ can provide some 300 point drops over 3 - 5 trading days that can provide some nice returns if you commit to taking several swings at it. Got to let winners run through end of day when you get hold of one though to make up for the stop outs. I've found making short entries have better odds between 11 - 1 PM EST. Better chances to have a short work after most of the BTFD buying takes place in the opening one or two hours of trade.
I like shorting because there is more time to enter at the tops, the topping processes plays out slower in the indexes, the BTFD entries disappear so fast that you have to end up chasing.
The drops happen faster once they start yes but the market distributes for a while which gives you an entry in the range. The BTFD ranges are way quicker so you have to very quick to pounce on the opportunity. I am talking about a little longer time frames, not scalping.