Percentage of Bulls in the trading ranks hit 70% in one of the latest surveys. A lot of shorts would have been removed by latest spike above 8521 in the DJIA.
VIX & VXN sell signals active in last week.
Last time this all occurred was March 2002 highs.
Jolly is playing the contrary hand here & is betting a false break.
Even though everything seems positive, weighted probabilities are with him ATM because the bullish sentiment is very high.
Of course we still need to be nimble enough to change....just in case.
noip
- increasing Shorts
Percentage of Bulls in the trading ranks hit 70% in one of the...
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