There is no secret here, the fundamentals are horrible and everyone knows it. This has the traders shorting everyday for the last 100-200 SPX pts, knowing the market doesn't belong up here with the backdrop. I gave it a shot myself. Mark has been showing us the assets in SH, the shorts won't give in. You can see it the way it trades, the shorts are trapped and getting squeezed, with FANG blowing to the upside. We probably need them to flip to get a decent high. As much as I do say the shorts are stuck, I do say its not a good spot for fresh longs at all. The SPX 200d MA = 3002 and is acting like a magnet pulling price up, and my target. So I do not think reward/risk is good with only 2% up from here. Internals diverging, price will top last.
https://stockcharts....id=p19774440182
Edited by tommyt, 11 May 2020 - 12:29 PM.