All theories? No. Not all, because this hasn't had and won't ever have losing years. Also, my trend following systems don't have any losing months in the backtests, so you are mistaken.
Blah blah blah! So you have a big account and I have a little account. So what. We are all starting from somewhere and attemptingto find success in the markets. Sure I could get a $20/hr job, and maybe sell mutual funds for a living. What a bore!
Looks like we're in the upper side of a trading range with the shorter term moving higher, staying long until proven wrong on my swing trade.
Or you can recognize this as a lower high made by short covering before a possible surprising report, but though this is a higher low, it will soon be a breach lower low, and while there is at least one more rally in for the q's, that is the only rally and it won't go higher than the most recent high, so when you see it stop moving up, you'll need to get out, if you aren't ready and willing already to realize you're wrong, because I'm certain by the price action the next oscillation beyond its lower high is a higher low, followed by the rally you expect but I have news that you will be sorely disappointed by how low that high will actually be, and the second you see it move down that'll be your exit signal.
I saw that too and considered banking profits Friday and maybe should have, if it continues higher there are always other chances to get in again. The first of the week should let us know if it'll continue higher of test the lows again. Guess I'll find out soon enough which way it'll go.
In addition, the market checked the underside of a curve fit of all the peaks since the high....... Dow theory still says down. The last high was the final validation.
This may be a temporary band-aid like the last one, but the chances it is announced this week or even during my trade are slim to none, because not only would that be viewed as a temporary fix, but it would also cascade into a nearly immediate currency crisis with the collapse of the dollar following shortly thereafter.