Was this the final hurrah? Sell US EQTY
Following on from the last post on here, [Snap back rally, NDX] (links below)
RUT, broke the range I mentioned 2150/2350 indicating the bull still held.
I said clues of how the RUT behaves at the range highs would be an indication of overall market strength
We are now there.
RUT broke highs- but HAS NOW FAILED to be convincing - (by closing back inside the range)
Even if you don't pay attention to volume (you should!), that chart pattern is the epitome of trading.
Add it to knowing when there is "lopsided positioning" you have a trading methodology .
Positioning data freely published is COT data, and it has "Asset Managers" as excessively long here, [posted a data picture on twitter]
ie "Smart money managers" are heavily positioned to one side (long)
=> so, any down moves, and they will be puking their positions and adding to downside movement...
(you get paid when other people are stopping out, panickedly hitting "Market Orders to close", forcing price in the direction you want)
Along with all the "market internals" I have banged on about before - all deteriorating....well....
it's all similar to when i last posted an idea with the same title
RUT, broke the range I mentioned 2150/2350 indicating the bull still held.
I said clues of how the RUT behaves at the range highs would be an indication of overall market strength
We are now there.
RUT broke highs- but HAS NOW FAILED to be convincing - (by closing back inside the range)
Even if you don't pay attention to volume (you should!), that chart pattern is the epitome of trading.
Add it to knowing when there is "lopsided positioning" you have a trading methodology .
Positioning data freely published is COT data, and it has "Asset Managers" as excessively long here, [posted a data picture on twitter]
ie "Smart money managers" are heavily positioned to one side (long)
=> so, any down moves, and they will be puking their positions and adding to downside movement...
(you get paid when other people are stopping out, panickedly hitting "Market Orders to close", forcing price in the direction you want)
Along with all the "market internals" I have banged on about before - all deteriorating....well....
it's all similar to when i last posted an idea with the same title
Related publications
Disclaimer
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.