I have not seen so many short setups in the time I've attempted to trade that side of the market. Old leaders all look like they are ready to rollover, the beaten down sectors all look like pullback to 50 shorts (the reverse of the long side), and the rest just don't look buyable in any sense of the word. Bottom line, go fishing with Livermore if you're a long only trader. If you short, we probably need a little more time before starting those positions.
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