The market couldn't power through and maintain new intraday highs. The market is showing its true colors. There is too much speculation in commodities with a lot of dollar bashing. Equities have been lagging crude oil and gold during this leg up. That was not the case from November to February. As I write, silver is plummeting after making a parabolic move. We may just have seen a bottom in the dollar today.
A short at current levels is probably going to be in the money by the end of the month. It is just a matter of perfecting entries now on the short side, which is why I'm waiting. But I don't want to wait too long, because this market looks vulnerable. I may start shorting tomorrow or Monday.
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