The downtrend of lower highs and lower lows has been broken with today's massive melt up in stocks. Trend followers are now covering short positions.
2 Words "Relief Rally" Last Tuesday the market fell into a bear market with SPX dropping 20% from its May highs, no market drops into bear market for one single day and starts a fresh new uptrend, this is just a relief rally, there is absolutely no catalyst to take the markets back to 2007 highs and there wont be for a very long time!
Depends on ur time frame... on the weekely we r in a decent if not massive down draft. But there is always a bottom around... you never know. Form your hypothesis in the time frame you decide trends and then trade th elower time frame with that bias...helps with better entries and exits... GL
Rallies in bear markets are sharper than in bull markets, hence the illusion of uptrend. But the sharpness over several days is a clue to what it really is...
Who gives a fcuk if we are?? LOL What the fcuk is an ''uptrend'' anyways???! :eek: At the end of the day the market may end the day higher for 4-5days in a row, maybe even for 6-7days in a row, however it will then have a series days where it closes down. And during those 6 up days there will be thousands and thousands of downward moves, it wont just rise in a vertical line!! So stop aksing stupid pointless questions you stupid fool