Have to agree Hoot. Right now, it seems like the SP could go even lower.
And there is little evidence that shorters are leaving the room. It would seem that those doing the shorting possess knowledge which is not in the public domain, or perhaps they have other reasons for the shorting.
I would expect that once point 2 of SM's post is resolved, there WILL be a dash for the exits. This should put a different slant on the chart.
time to hold your nerve, page-4
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