And yet another solid Red Flag to the Bulls’ charge as Tuesday’s heavy selling saw the major indexes to closes below their 20-day moving averages.
We’ve been Bears for weeks and weeks. While the market can certainly remain irrational longer than we can remain solvent, we’ve taken the discipline to cut losses from shorting before they got out of hand.
But today’s price action simply turns our Sell Bias even stronger. We’re looking to add shorts – again.