tuesday, page-24

re: further congestion ? in s&p chart G'day all
Jaysee
I am certainly no expert, but my understanding is that when the majority is long, you have more potential sellers (profit taking or stop loss) and fewer buyers.
When most are short you have more potential buyers (short covering/bottom picking) and less sellers.
cheers
Rod
PS My novice thoughts for sp500, getting close to the end of an ascending triangle, so chart looks bullish.
Seems unbeleivable but I try not to argue with the chart.