This is no time to be heavily short.
Just perused my daily/ weekly/monthly charts.
Weekly MACD has exceeded 2002/3 extremes and is within a week or two of 1987 extremes.
That doesn't mean new lows can't be seen, but either minimal or very brief or after a big rally or multi month one.
I would have loved to see March 23 as a low and it may manage by a sharp day or two move at that time.
The biggest worry is a high at that time which would suggest a slower but prolonged bear into Oct at least.
Can news get more bearish than now? Perhaps and I am sure conditions will but my TA says time to lighten up on shorts and expect upside market surprises.
Banks down 1/3rd, BHP was earlier.
Maybe we get 50% but no time to geat too pessimistic or too greedy.
How many here are talking positive.
Probably Farsight and he is never wrong, OK almost never wrong.
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