I don't know 12SPX, you might be completely right, but this is how I consider this thing : when after a vertical drop you have a vertical rise that recovers a substantial part of the losses,
well that is short covering i.e. bear market rally, instead when you have three months of slow downtrending market action which in no way is a vertical drop and then you have a fast rise
recovering 61% of the losses, to me that might be an action meant to leave no chances to escape to those bears who have been trapped inside, those who have entered short at the
bottom or near to it. Just my opinion eh, not pretending to be right.
Edited by andr99, 08 November 2023 - 02:10 PM.