While I haven't been able to go through all of my watchlists yet, I checked on several of the more important or interesting short positions I'd want to enter/add to on a head fake move as the market is really not looking good at the moment.
What I've found for the most part so far other than they are very weak, they don't look quite ready to give up on the head fake idea and therefore it's not a rush at present to chase anything or enter prematurely.
Here are a couple of examples...
AAPL's larger 3C trend is weak and AAPL is close to a great short entry, a head fake move a bit higher or in this area is what we are looking for.
However intraday, there's not the damage in the individual shorts that there is in the averages, at least not yet.
NFLX is finally ready to break with the longer (30 min) charts breaking down from a strategic P.O.V.
From a topping process point of view the same is true.
Even a 3 min chart NFLX is looking very bad.
However intraday it hasn't broken yet, therefore the chance or probability of a head fake a bit higher is still there.
I'll go through more assets.
All of that being said, if you are looking at the market with a horizon of at least swing trade or longer, I don't think there will be much difference a month from now whether you entered here or a few percent higher. Possibly considering phasing in to positions.
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