With most out of this whole rally from March, you have to ask yourself who was buying?
The Fed? If so, then those people out have nothing to lose by shorting here or being out.
This is an unconventional market and rally,100 year pandemic, sentiment may not work like
last year or most years.
Consolidating between the 20dma and 50dma, the hourly bounce here was weak, it looks like
it is going a lot lower. There were no bounces in AAII like last year that marked the 10% corrections
yet the market has sold off.
Edited by CLK, 11 September 2020 - 07:14 AM.