It's not rocket science but people make it out to be.
it's 1 step up + 2 steps down and the cycle has been going on since it hit $106+ in May. Like a Rolex clock, always on time, on que.
Nothing goes down in a straight line, and yes SHORTS ought to know that and respect that pattern. There is always 1 step up after any 2 steps down phase, and vice versa IN MY OPINION.
Sentiment: Strong Sell
I never short after any 2 steps-down phase, even though it may look gloomier than ever, and I never buy after 1 step-up, even though it may look like the best green thing in the world