“The market is showing a clear pattern of lower highs and lower lows, indicating a potential shift in control from buyers to sellers.”
“I never want to buy the dip, I don’t want to buy weakness because it might continue to become weak. Instead, I want to buy strength after the dip and then buy when the buyers are in control.”
The weekly chart for the S&P 500 is still very clearly bullish, indicating potential continued upside.
“The breakout has now seemingly failed…the momentum is to the downside in the Russell 2000. There’s no reason that I can see…to be long this market.”
“I would much prefer to buy at a higher price when I can say the buyers are back in control. It’s above the five-day moving average is above the anchored VWAP from the peak.”
“The buyers have regained control and the average short seller is losing.”
“I’m not buying a dip. I’m not buying it because it’s at prior resistance which has the potential to become support.” – I prefer to wait for confirmation and a favorable setup before buying a stock, rather than relying on potential support levels.
