Well just look at some of the reactions here on a relatively small pullback. Everyone buys and buys and keeps buying until there's absolutely no buyers left, than we correct/pullback/crash. Rinse and repeat. Markets can't go straight up forever, but during that time yes there's a lot of BTD scenarios for sure. Not to mention equity markets are naturally bullish bias as generally speaking there's a lot riding on them going up.
I would describe anyone who bought as a result of an election as pretty weak handed and probably a fair weather friend who will sell at the first hint of danger.
This should be an interesting week, with a lot of short and long setups intra-day. Ultimately would expect 58 this week or next week, but will just see what tomorrow brings and trade it intra-day.
Decent morning, kind of anti-climatic for me as I was pretty excited about today, but failed to fully take advantage of the easier short set ups, did not hold for full targets so only made portion of what I should of so far. But day going as planned lots of action to trade.
The globals (by which I narrowly mean, the DAX and DJ600) have been headed down since 0800 EST -- we're following them. It seems "The World" is pissed at Donnie. Volume in the ES is more than I've seen in two weeks? Dunno. But the best (volume) morning in a while. I think it's a global excuse for profit-taking. Would make sense, at any rate........