Two things to watch that are not being discussed in the FUCKING MEDIA.
A vicious move to the upside in both Swiss Francs and Japanese Yen. The Yen carry-trade comes to mind and the ultimate safe haven of SwissFAGS is very relevant. Those who’ve played bear markets before know those two currencies draw in buyers during periods of duress.
When I first saw you Exodus OS post last Thursday, I has a bad feeling. As I wrote before, momentum signals must be re-evalauated in a bear market:
Bull market:
1st Overbought signal: buy-in and ride the momentum until the surge (usually within a week)
Oversold: we’ve made a near-term bottom
Bear market
Overbought: we’ve made a near-term top
1st Oversold signal: sell/short and ride the momentum until the plunge (usually within a week)
Of course, I was looking for a rally and already positioned long, so I let that rule my positioning.