<i>"Austin
Isn't that a bit early yet? july - October 2002 was the 2nd down leg of a full blown bear market. I would be looking at the start of bear markets and as stated the massive short squeeze rallies on any ounce of hope and bullish news (if indeed this is the start), who knows maybe we just crash come Monday"</i>
I expect to see a series of short squeeze rallies in the medium future. If you review charts of July - Oct 2002, you'll see how a bear market correction unfolds. Several days of selling are interrupted by an afternoon pop (hammer candle) that squeezes all day the next. Bulls come out and trumpet an end to the selling, look at the ADV/DEC and volume, etc.
Within two - three sessions, that entire squeeze was erased and lower lows result. That's how bear markets unfold... violence and volatility going both ways.
We have no idea if this is merely another quick correction or an extended decline into year's end or further. We do know what to look for: sharp rallies that fail completely within one - three days. That is the act of institutions dumping endless supply on retail dipsters, aka distribution.
*
It would have been nice to short Monday and cover at 4:14pm est Friday. That's pretty much a lottery ticket, no one can base a career on such. My week went Mon +5pts ES, Tue +12 ES, Wed +10 ES, Thu +42 ES, Fri +50 ES.
The return to "glory days" market action of 2002 caught me by surprise this week until Wednesday night. Thursday, we were ready. It's quite possible to see similar if not greater intraday ranges, swings and volatility to come. Both ways
Isn't that a bit early yet? july - October 2002 was the 2nd down leg of a full blown bear market. I would be looking at the start of bear markets and as stated the massive short squeeze rallies on any ounce of hope and bullish news (if indeed this is the start), who knows maybe we just crash come Monday"</i>
I expect to see a series of short squeeze rallies in the medium future. If you review charts of July - Oct 2002, you'll see how a bear market correction unfolds. Several days of selling are interrupted by an afternoon pop (hammer candle) that squeezes all day the next. Bulls come out and trumpet an end to the selling, look at the ADV/DEC and volume, etc.
Within two - three sessions, that entire squeeze was erased and lower lows result. That's how bear markets unfold... violence and volatility going both ways.
We have no idea if this is merely another quick correction or an extended decline into year's end or further. We do know what to look for: sharp rallies that fail completely within one - three days. That is the act of institutions dumping endless supply on retail dipsters, aka distribution.
*
It would have been nice to short Monday and cover at 4:14pm est Friday. That's pretty much a lottery ticket, no one can base a career on such. My week went Mon +5pts ES, Tue +12 ES, Wed +10 ES, Thu +42 ES, Fri +50 ES.
The return to "glory days" market action of 2002 caught me by surprise this week until Wednesday night. Thursday, we were ready. It's quite possible to see similar if not greater intraday ranges, swings and volatility to come. Both ways
, I did manage to capture range more than ES offered via DAX daytrades 
