Today could just be a resting day where the market needs to consolidate yesterday’s gains, but it pushed me closer to the bearish side and in fact, I started looking for short setups although I am not going live with any trades yet.
The bulls need to send a very convincing signal to the market that they are in charge if they want this market to go up and they need to do it quickly. Until that occurs, I choose not to partake as it is a sucker’s bet.
For now I sit on the sidelines and wait for direction one way or the other. My guess is that I will be in the market one side or the other tomorrow (or Monday) as I assume one side will take control very quickly.