Dislikedyour conclusions about the drivers behind the move are completely wrong. Indices don't sell off sharply for 2% because they are 'overvalued' and hit some kind of magical PPZ where everyone throws out a stoprev.Ignored
'Overvalued' is just terminology, a good word that will sink into the mind of a learner. We use the word 'Supply' at places like this, because there are more sellers than buyers.
At the bottom, we don't, but can, use the word 'undervalued'. We use the word 'Demand' - More buyers than sellers.
But these are only words, and would profit by any other name not smell as sweet?
Anyway, it's not my place to push these ideas on anybody. You already see the market sort of like this. But what you see as FTA, some of us see as the best place to trade from.
In essence, we're trading against you, and bringing you back to breakeven, or worse
Best
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