The data is still pointing in the same direction. Over the past 24 hours: $54.27 billion of shorts. $53.88 billion of longs. Over the past 12 hours? More shorts. Over the past 4 hours? More shorts. Even over the past hour, traders are still betting on lower prices. Yet somehow 55% of people are still very bullish. That’s the interesting part. The positioning data says one thing. Sentiment says another. When those two start moving in opposite directions, I pay attention. Because markets tend to punish the side that’s most comfortable. 👀
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