- only had short 1-or-2 day pullbacks in the past few weeks...
- not enough to remove the contra players and create any short-term oversold condition.. where I can enter safely.
The US market has not significantly corrected, and is still overbought.... don't know what the trend is:
- The market has moved in a tepid way (several distribution days and bearish candlestick formations in the last week)....
- but it has still been rising, killing the shorts.
- IBD's tone changes daily.
Dur to the uncertainty, I would buy on retracement, instead of breakouts.