DislikedTo make new highs or lows new money must enter the market or old positions must be cashed in to free up capital for new ones.
If everyone is long, there are no buyers left and we are definitely going down.
As long as China keeps showing up on the bid then not "everybody" is long yet.
Until China stops buying export commodities from us, they will not stop showing up on the bid, no matter how low it goes.
Ironically, this "putting a floor under" type effect is the one thing an export economy really cant afford.Ignored
I believe USD will crash eventually and Oz will come out of the mess as a winner (because of its resources) but this will not happen in the short term.Ignored
DislikedIt's looking bearish, there, sinner. And I am also seeing a bit of bearish divergence. I think commitment of bulls might be found wanting now the rate hike is over and done with.Ignored