Because everyone isn't looking for a pullback, but everyone who's bullish says everyone is looking for a pullback. It's a familiar cycle perpetuated by the lack of statistically significant data on the sentiments of stock trading boards. As someone looking for a pullback, I can tell you that I'm not getting a lot of agreement when I post pullback-oriented charts and wave counts. FWIW. People could be nodding in silent agreement to my charts, but my guess is that they're more likely to be saying 'poor deluded bear'.
Don't believe it is. If we break out of the triangle on the 60 min chart on the COMP, we'll most likely rocket up...and that's what I'm expecting right now.
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