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Good To Be A Bear Again

Published 03/24/2016, 12:54 AM
Updated 07/09/2023, 06:31 AM
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Yesterday was the first day in what feels like years that it felt good to be a bear. Everything about it went right, particularly the fact that every little attempt for the bulls to bid things up fizzled and died.

The ES has clearly broken its uptrend and has made a cute little topping pattern:

ESM16 Chart

The triple-bearish-on-energy that I specifically cited as a long idea is turning higher:

ERY Chart

And the Dow Jones Composite is poised to give the bulls the merciless flogging they all so richly deserve, particularly after their brazen cynicism at bidding markets higher in the face of a bloodthirsty attack.

COMP Chart

How about we get five weeks of this kind of market, day after day, just to let the bulls know precisely how it feels?

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