There's just not much to say at this point, that hasn't already been said. Readings haven't been this bearish in 4 years, like been commenting and all these pops news or not are just used for them to sell into new liquidity.
If they didn't set this down move up months ago and likely distribution zones set up on RTY weekly, almost 4 months ago, than I could see taking pops / news more seriously. But just no point in trying to fight this, clearly larger players want out of the market not in, we still remain in the pattern of hunting lows, not hunting highs though and macro TA continue to rule.
Literally the only thing bulls have going for them is the Daily chart is getting closer to being in a position where deep buys often come from. But momentum has been weak and negative for so long, the buy will most likely fail or be pretty muted in response and the pop will most likely get faded.
I feel like I am beating a dead horse with my view at this point, so I'll stop commenting so much, unless there's something I see that makes me lighten up or change my view. Going to continue to look lower and favor shorts intra-day, unless bulls show some serious signs of life (not just fading 400 points and than rallying 200-300, that is not strength or even really a rally on a macro level).
If they didn't set this down move up months ago and likely distribution zones set up on RTY weekly, almost 4 months ago, than I could see taking pops / news more seriously. But just no point in trying to fight this, clearly larger players want out of the market not in, we still remain in the pattern of hunting lows, not hunting highs though and macro TA continue to rule.
Literally the only thing bulls have going for them is the Daily chart is getting closer to being in a position where deep buys often come from. But momentum has been weak and negative for so long, the buy will most likely fail or be pretty muted in response and the pop will most likely get faded.
I feel like I am beating a dead horse with my view at this point, so I'll stop commenting so much, unless there's something I see that makes me lighten up or change my view. Going to continue to look lower and favor shorts intra-day, unless bulls show some serious signs of life (not just fading 400 points and than rallying 200-300, that is not strength or even really a rally on a macro level).
