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Not sure whether it's a lower high therefore the rebound was over or not.
Flat open, likely just a range day.
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last two days, trading range was lower but it was nothingness. flat sideways overall. leaning bearish but price doesn't say much. let see if bulls can retake the upper trading range or continue. be nimble note to self.
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It's the bear's last chance here to make a downtrend day. My guess is it's just a range day.
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The pullback probably will be bought. 10% chances it was a vacuum up therefore the pullback now will go all the way back to the day low.
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zh headline: "Here Comes The Squeeze: Goldman Prime Says Hedge Funds Shorted Tech For 9 Of The Past 10 Days”
GS: the bulk of this selling was short selling, i.e., the flows were "driven by short sales outpacing long buys 2 to 1.
GS: Goldman notes that managers are the most U/W [underweight] Tech Hardware (-5.6%) followed by Semis & Semi Equip (-2.4%) while still O/W [overweight] Software & Services (+4.8%).
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
If TECH indeed squeezes (in the next day/few days) I’m wondering where the shorts will be stopped out [where they will start buying to cover]
and I’m guessing at 102 on the TQQQ’s
[All the pros that are short tech have just read that zh headline and text, and are preparing to cover if they need to]
[Anyone with better analysis, please post]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.