The ES, NQ, and RTY are all bright green this morning, which surely warms the hearts of our bullish friends. “Buy the dip!” they’ll proclaim. “The sell-off is over!” they’ll chirp.
Well, yeah, on a one minute bar, it looks dandy, but if you zoom back, even the likes of Jim Cramer would see the trend has changed. OK, well, yeah, maybe not, but you get my point.
Most impressive to me is how hazardous bonds look right now. It’s amazing that after 40 months of a bear market, bonds could still be in danger, but, yeah, I think they are.
All of which, soon enough, will lead the dip buyers to just one simple conclusion.
