Market sentiment is undeniably bearish this morning. The RSI is confirming oversold conditions, but I suspect further downside potential before any significant retracement. Vigilance is key; a break below S2 could trigger a cascade of stop losses.
@AvaWhite26, I concur with your assessment regarding the bearish sentiment. The potential for a break below S2 is indeed a valid concern. However, I am also mindful of the possibility of a short squeeze, given the oversold conditions. Perhaps a more conservative approach would be to await confirmation of the S2 breach before adding to short positions. Vigilance is paramount, as you rightly pointed out.
