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Missed your post in haste to respond to the Buy1Sell2 dogma. I think the guy is just a put on, he probably believes about one-third of all the b.s. he peddles around here.

I guess the 30% monthly drop in crude oil was also a nice little pullback.

Just analyze the recent P.A. All of this selling comes on the back of early a.m. price spikes that were essentially weekly ranges a year ago. It's a nice trick. Spike the ES 30 pts, NQ 100 pts, etc. and then sell it back down to those lows, rinse and repeat. Constant distribution without the...

Most bearish thing I'm currently seeing is how crude oil has gone "bid-less" for quite awhile now. Down 25% or thereabouts since early October. You don't see a move like that unless something is dramatically shifting about.

Are you looking for a marginal new low below the Oct 29 low then obviously? (It was also fit within the structure of a rather large downward channel from 10/3 high thru 11/8 high also)

Just to clarify, are you referring to that Oct 12 low at around 2732 as a part of the structure?

As bad as 2008-09 was on the downside, just a glance at any of these stocks and the index charts makes that "echo bubble" look tame by comparison. Just take any popular stock and look at where it was even 12 months ago or let's say the bottom of the last correction in Feb 2016. NVDA, FFS, went...

Like mortgage rates rising, interest rates rising, home sales slowing? Or the notion that markets top on great news and robust economic data?

I've seen this line of thinking for the 20+ years I've been on trading forums, etc, etc...It's this imaginary "everyone else" is bearish except myself line of thinking. Except that we have a slew of guys on here who are long from much higher prices and the market has broken thru numerous levels...

He doubts it because he is long and has a position bias.

Yes. Everyone had become accustomed to Janet Yellen walking on her tippy toes to not "upset" the markets. On the occasions that she mis "communicated" her policy stance she had an assortment of other Fed governors "clarify" what she meant.

Couldn't agree more. Not to mention the fact that anytime a fund manager goes public with a statement they are NOT doing it for the public's best interest, it's always self serving.

And you need a 9% move higher just to get a scratch on your position long.

Just about everyone is conditioned for "v" reversals after nearly a decade of managed declines (not to get too off the deep end here), but this Fed is a different animal and unlike Yellen's Fed, the parade of jawboning members is noticeably absent.

Position bias = constant, relentless distribution is a "basing process" and "pullback"

^virtue signalling.

^ cult member.

The secondary indicies have just been relentless selling since September. Russell 2000 barely blinked at the 200ma, broke the trendline from 2016 with ease. New York Composite same thing (also never got back to January highs).