I find myself living in a virtual world, where up is down and bad is rewarded with awards. It’s real easy to get sucked into the rabbit hole of negativity and it is slippery indeed. I try to remind myself that the market isn’t interested in trading lower.I expressed something of the same essence a few days ago on "Market Most Often Does The Opposite", where I mentioned:
As I have hinted in my own words, I can't fade myself like The Fly can. He is 97% long now, on the other hand, I am still holding inverse ETF's albeit I've cut it down to 1/3. It's humbling to know just how much more one still must learn to attain the mastery of trading.
The market continues to chuck along in favor of the bull, as always. $BPCOMPQ's buy signal isn't showing any sign of slow down. Volatility stalls. As seen in the daily chart of TVIX below, it is probably the worst thing it is doing -- consolidating. I'd rather see a move down for a possibility of a double bottom, or a strong bounce to 13.50 area to back test the break down. This consolidating is not only frustrating, brings nothing to a closure, but also ushering subsequent continuation -- to the down side! Same story with VXX.
The one thing hopeful is that the consolidation at the rectangle target, if it can hold a bit longer, will present a strong positive MACD divergence that the market will have to address. Speaking of hope, Buy-DON'T Hold reiterated its neutral position (not long!).