….or lack thereof, really. as the market has essentially gone nowhere in the last two weeks , there is nothing to add that hasn’t been covered lately. i won’t try to spin the fact that the market has traded flat for the last couple of weeks as bullish or bearish as although one could make either case (bears might say the market has run out of buyers while bulls might say the market is consolidating the recent gains in order to gather the energy to blast off to new highs), one can take the last two weeks anyway they want but the important thing is which way the market breaks from here.
as nothing technically has changed, my opinion on the market hasn’t either. i remain bearish, positioned short and plan to either (continue) to aggressively short the market should this recent consolidation pattern resolve to the downside, or begin scaling out of my short positions if the market makes a convincing breakout on the upside. i don’t plan to do much as far as positioning for the remainder of the week in front of the 3-day weekend for the US markets but i will try to elaborate some more on how i plan to trade the next move, which should be coming very soon.
btw- we finally did get that confirmed bearish MACD crossover on the QQQ & $NDX today, albeit slightly but an officially crossover nonetheless, thereby confirming an additional fairly high-probability sell signal on US equities.