It's a classic bear flag pausing the downtrend. ---Doesn't necessarily mean that the next move is down of course.
a responsible trader never bets the farm on the roulette wheel… north/ south… black/ red! just a hunch, Schitz, that they may want to “ steal the move “ as I call it, to alleviate selling pressure during RTH… I’ve lasted 32 yrs in this racket by being a counter puncher & by NOT predicting … Going for the KO only when odds are stacked in my favor while positioned properly along with multiple confirming indicators! That said, tomorrow EOD weekly bar will be very important in the big pic &’will reveal a clue as to where we’re headed…. Good Luck Pisan!
Currently flat trading mostly Short side intraday in this 120 pt range… I’m actually hoping for a spike North on a false breakout bull trap… that would be my ideal scenario…. Off of this Daily bear flag.
I don't get your point. By definition, isn't that what drives the market lower, ie. there are no more longs?