Indices 8/08, page-22

Hard to know if they are fooling the shorts or the longs. The opposite to everything you're saying could also be applied. Pushes up to get more bulls on board thinking this rally has another 10% in it. When it drops lower but doesn't keep falling, bulls think that's new support now. Slowly slowly sucking more bulls in before the rug pull.

At least that's what i hope is happening, lol.

Even if i was bullish right now i would be very reluctant to be opening new longs here, and i certainly would have locked in some profit already. The risk:reward to open new longs here is just too high.