Indices 27/05, page-52

Just like that, every single bear from Wednesday just got screwed in 1 session
Very easy 150 points on the xjo for the bulls
How did this happen?
Very simple
Just shows how traders like Jerry & calvo don't understand the market after 25 & 40 years losing money in it
Calvo with his vague seasonality charts that are never accurate & after getting 1 correct call in 6 months he's back to pretending he knows what he's doing
Jerry with the constant short the market, go the bears rubbish
Even last night, he can't see when markets are overextended
Haha

Bears needed more shares to try dump into the market
I could see it when we hit our first support level of 7590 (you were even warned about it & I was enjoying taunting the late bears. Haha)
Once we got through 7650 resistance, we backtested it & off we went
As bears climb the market back for more shares, bulls take advantage
If bulls don't hold their shares, bears will try take out lower support again
Especially any late bulls that only enter after green candles

Is this bounce enough to make bears worry yet?
Absolutely not
Is it too late to go long?
You're going to have to wait for another backtest now
Don't do a calvo & open a long position with a large stop because the market can just come back down, take them out & still make new highs afterwards
Well, I don't have to worry about it now as I don't chase the market
I just have to worry if my new support fence holds whether to hold or take profits before bears to try dump again

So once again, thank you bears for more easy money because Australians always like to oversell
Red elevators are much easier to enter long positions, than red staircases

Back to holding long positions & short scalping my upper fences until uptrend breaks again
This could still be a straight dump back to lower support again so be careful on monday or tuesday