NYMO - super super oversold now
SPY - volume keeps rising..wow...waiting for 1st lower volume day to mark another hint that reversal is starting
UUP - calmest chart there is...makes me feel gold is very irrational and when that falls huge, market will most likely snapback huge as well...this shows that fear is rampant and irrational
VIX - huge move...super big candle that might even be bigger than LEH times...wow!
Market is so oversold that we should just jump in buying everything...but the timing still ain't right...the action makes me not even tempted to look for longs today as it feels that the bulls are still away and are in no rush to buy now...but of course a snapback will happen...and probably be big...and from this fall, we probably need some huge news as a catalyst to fear the bears...because at this moment, bears are so strong and comfortable that it will take a lot to change the entire environment imo...can't think we will gap up anywhere but more a huge reversal off a decent open and huge selloff is what i expect to be the reversal day...
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