Dangerous Short Covering

The one representative Chart that says it all: The detailed Q's Trend Chart.

We can see that we are in another phase of short covering, where the Participants are positioned in a bearish way and the market goes up. This can last for months, but normally it is an affair that should not run that long. In a day an age where the Bots and Algos run the shop it is hard to argue with the word 'normal'.

For me this all looks like a gigantic HEADFAKE, where the market takes out the recent March/April highs while cleansing the market from the bearish market positions before giving it the axe.

This is a very dangerous environment.