Leveraged shorts are stacking in favor over longs.
This is good news for bulls, I think this level (80ish) will hold and we will see a short squeeze later this week once enough shorts pile up. That won't mean we are out of the woods, but it will mean some relief and might make for a nice swing trade for those so inclined.
I'm definitely in the 70-40-20k death march camp in general, but that may not happen just yet; fundamentals of global meltdown/tariff anxiety/ww3/et al not withstanding.
If we break last weeks low of 78 that pretty much invalidates everything i have said. gl out there.
This is good news for bulls, I think this level (80ish) will hold and we will see a short squeeze later this week once enough shorts pile up. That won't mean we are out of the woods, but it will mean some relief and might make for a nice swing trade for those so inclined.
I'm definitely in the 70-40-20k death march camp in general, but that may not happen just yet; fundamentals of global meltdown/tariff anxiety/ww3/et al not withstanding.
If we break last weeks low of 78 that pretty much invalidates everything i have said. gl out there.
Trade active
probably worth noting; creating a pretty obvious double bottom on the smaller time frames. Note
what we do around 89-90 will be telling. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.