When everyone tips the boat to one side, the market tends to do something different…
Asset managers and leveraged funds going net long means we’re likely closer to a top than to the start of the next leg higher.
This four-hour chart of Nasdaq futures shows 14,100 as support, and 15,000 as a potential top. Then we’re likely in for a much bigger, deeper correction than we’ve seen for a few months.
Net long and short positioning also supports my theory of a potential top…
Volatility is coming…
Jeffry Turnmire
Jeffry Turnmire Trading
