ziko,
I think that is a good observation.
Right now underlying technicals (e.g., MACD, Stochs, ADX)show that the sentiment of traders right now is that they will continue to buy these support points.
Although, I am seeing now some turning down in those measures.
However, weekly, monthly charts on technicals, moving avgs (9/10 ema) etc show continued strength so it looks like until the "back is broken" so to speak of this buy on the pull back mentality then we will continue to trade sideways to up.
Once we see a really good hard pull back with follow through then we will have a good signal to short (other than the more localized scalps I'm doing).
Technicals so far indicate that we are still going higher (but likely will trade a bit sideways to down here). Once we see a big break of the underling technicals I will only short these more modest timeframes to make a few bucks here and there... Mike
