This has been an expensive romance. There hasn’t been a bear squeeze – not on Friday and not today. There were some nice buys, but no bear squeeze.
A bear squeeze:
- Often sees lower prices at the open to draw the last resistors to the new down trend.
- Reverses and once it reverses, it doesn’t stop, not for KLs or anything.
Normal reversal and retrace action during a downtrend:
- Will see new highs sold and new lows bought
- Extreme move retrace
- Levels react
