On December 7, a bullish breakout above 1.3450 (the upper limit of the recent consolidation range) enhanced
the bullish side of the market.
While the more
bullish side of the markets expect this correction to reverse near term, its impact has been felt in the wider cryptocurrency space to a pretty substantial degree.
Not exact matches
It would now take several significant «distribution days» (higher volume selling) to nullify recent
bullish price action on the long
side of the
market.
Composite Treasuries Sentiment: Taking a broader view
of bond
market sentiment (our composite bond
market sentiment indicator combines the signal from futures positioning, fund flows, implied volatility, and global bond
market breadth), it's readily apparent that bond
market sentiment has seen a reset from relatively stretched bearishness to just on the
bullish side of neutral (i.e. the indicator is saying participants have gone from expecting higher bond yields to expecting lower bond yields).
The lack
of substantial
bullish follow - through in leading individual stocks in recent weeks, the absence
of leadership in most ETFs (other than international ETFs), and the bearish pattern on the weekly chart
of the S&P 500 Index (below) are all valid reasons to avoid the long
side of the
market now.
This data can provide information about whether the
bullish or bearish trend is likely to continue and keep traders and investors on the right
side of the broader
market's direction.
For example, most stock
markets have a
bullish bias, this means traders tend to like the long
side or upside
of the
market more and as a result
of this it is actually more difficult and generally requires more margin to sell short in a stock
market.
It's highly unlikely that it'll find success and I'm not that
bullish that the TV Gaming
side of the console
market in China will find success.