Weed charts are not bullish at this point.
Right now, the charts are clear. Stay in cash is the safest mode of operation but don't fool yourselves. The upswing might be violent and all these short sellers and us sidelines traders will become buyers. I, for one, welcome the opportunity to enter at half the price this was just two weeks ago. And could it get even cheaper? Absolutely.
None of these trade in isolation. Watch the DOW, watch the S&P indexes. Those are the real market indicators that will drive the big money bulls and big money bears.
What is clear is ACB is still #1 WEED from a volume and SCTR perspective. The interest might be bearish at this point but none of these short sellers piling on, selling this hard, will want to be caught in a bull run. They will all become buyers again to cover and might buy twice as much to go long based on bullish charts.
If you want to become a trader, ACB is certainly the big game to play. But if you are just an investor who is new to the game, perhaps sit it out for now and watch. And by sitting it out, I mean ignore your balances or sell and get ready to jump back in quickly. This is a bear biases trade at this point. Traders will flip the spikes until the longer term charts turn.