To add some clarity 🙌
Given the current news backdrop, I allow for a slightly deeper pullback in the short term. However, my primary bias remains unchanged I still expect a continuation of the upward impulses.
We’re seeing a significant increase in negative sentiment right now. Locally, that obviously puts pressure on the market. But from a mid-term perspective, this kind of sentiment extreme often becomes fuel for a move in the opposite direction.
Beyond the news flow, several indicators are already overheated on the bearish side. The current media pressure is amplifying fear and encouraging even more short positioning. Structurally, that creates the conditions for a potential squeeze the market tends to punish overcrowded trades.
If short interest continues to build into weakness, the probability increases that we’ll see a strong impulsive move against the majority’s expectations.