Give it a few hours, the market will bounce right back up!
That’s the mentality of traders these days, and it is brutal from the standpoint of getting any real momentum to the downside. Today, just like we saw on October 25th, and again on November 2nd, 9th and today, we have the intraday sell-off in the morning that takes price down, in a very convincing manner, below the 20-day moving average, only to suck in enough shorts, so that they can squeeze them higher the remainder of the day.
I would love to take advantage of a good bear market. There’s nothing better. The problem is, the market refuses to break down. Instead, the dip buyers force it into a correction over time, rather than by price.
For now, keep the watch list handy, one day, I promise, it will come in handy….. maybe!
Here’s the bearish watch list I am following.
