There are no new short positions as the market will not stop moving higher and thus initiating short positions would be an effort in futility. We had three chances to make money on shorts if this market moved lower and after initially making money the market turned and took our shorts with it. In an uptrend like this that is offering us plenty of gains and new longs there is no reason anyone should be looking at the short side. The next round of distribution the market gives us might lead to a sustained downtrend but remember we will need proper setups and for the low volume rallies to end (clearly, we don’t need volume on rallies anymore) before shorting becomes a priority. The biggest signals will be a market in a downtrend, distribution, no new longs, and our current longs failing. When we see a combination of that then we might have a shot. Until then, focus on the longs.
new short positions: none
none
