RE:RE:RE:whats up?"Indicator, so you figure a large chunk of this downdraft is short sellers that will need to cover at some point?"
I'm not watching house info in real time these days but that's usually the way it goes - Algo traders of big houses run the markets pretty easily during fearfull times.
Bear is definitely not dead so long as paper liquidity is being withdrawn, rate hikes keep coming, recession fears drag on. But there will be rallies, and violent ones when the shorts over reach. Maybe one not too far off.
There appears to still be a bull case for Oil even amidst this bear/fear/recession chit chat, but how energy reacts to ongoing general market negativity so far shows little to no safe haven.
Volatility down and UP will be significant and active traders love this stuff - I'm getting less happy about squinting into the monitors @ 6:30 AM PST - that just comes too early to be much fun these days- lol
As you heard me saying some weeks ago this market was turning Bearish, so I'm now 85% cash (in contrast to 5% cash at the early energy run days of 2020 like many others here I'm guessing). Am watching to pounce on some serious washouts, playing the occasional bounce long and holding/ weathering the storm on some energy faves like others I'm sure.
Cash is a nice place to be in a rising interest rate volatile market. 4% yield while sleeping is quite pleasant for us semi-retired geezer traders :-D
Good luck!