To add to that, as I’ve discussed in videos over the past couple of months, if the market were to go much above the recent highs, especially if it were to break above the previous bull market peak of late 2021/early 2022, that would inflict some serious damage to the longer-term bearish case from a technical (charting) perspective.

Absolutely. Marginal new highs, especially when they are (negative) divergent highs are quite common when a stock, index, or other security puts in a major top. In fact, those are often the most powerful type of tops as the breakout to new highs typically blows out the last of the week handed shorts & sucks in a bunch of new “hot money” longs that buy the breakout.

However, on face value, breakouts to new highs are inherently bullish as everyone (long) holding a position at that time is profitable (nobody underwater just waiting to breakeven & sell). As such, if one was bearish & expecting the breakout to fail, the objective short entry is to wait until after the breakout has clearly failed, not just a slight undercut on a backtest of the previous highs.

“Hope” is a 4-letter word in trading & investing. ;-)

I’ll check it out. Much appreciated!

What? down time? Eh not so sure, NVDA. TSLA, META still ramping