Hi,
Use whatever indicators you're comfortable with, they all trend the same, since they are manipulated together, so my point is otherwise.
The market is not in Bull mode, hasn't been since February, only the Dow, basically. This creates the illusion that the market is bull, when in fact, all of the major hedge funds have been selling down hundreds of tickers for the past several months in a BIG way, clearing their shelves. They don't do that in bull markets, they buy up, which tightens supply, so prices rise, where they can dump. That's not going on, it's the opposite, so there is an old game being run right now, whenever big money's in a bind, as follows...
It's easy for big money to create a "fake bull," since to pump the Dow, you only have to pump 30 stocks, as they P&D the rest, selling down all the other tickers to clear out inventory. Day traders jump in and work the Dows, stabilizing the Dow for the meantime intra-day, but it's not real. This game is played all the time, and the evidence is in the high prices in crypto, since when big money gets out of stocks, they buy up and pump crypto, which happened in May, and now August through now.
Shorting could not be as profitable as it is if the market were bull. Look at almost everything that was sky high in January-February, they're all down, and going down, down, down, not up-up-up.
Big money overbought in Jan-Feb, and they've been holding the bag since April when they ran out of buyers. The only way for them to get out is to paint a fake bull, they need dumb money back in, that's who they live off, so they pump the Dow, creating the fake bull.
As soon as big money can get rid of all their high holds, they'll let the market correct in a big way (accumulation again). Happens every nine years and it's 18 months overdue. Secondary evidence when you see what pumps, is that they only stay up a day or two, then dive. No runners, which you would have in a bull. All P&D.
Not that you can't make money in fake bulls, I do it every day, you just simply out trade dumb money. Beware that when that runs out, it's mano-a-mano again with brokerages during the slide. Just don't ride a fake bull unless you have a nice fluffy pillow under your backside.
Til then...
Happy trading!
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