Adding a couple of things to that.
The emotion charts, i think this chart is cleaner but it’s just personal preference.
1) You can flip the chart, and the emotions will be the same for shorters. Or, you can invert the emotions in the current charts and see how shorters feel during an hard rally
2) This happens in every timeframe, so at every scale. That means, euphoria on the 30 min might be disbelief on the daily. Always put everything in a context, and know what context are you in
3) This is a fractal. Which, is more or less the same of point 2, but I think being aware of this is really a key in trading if you wanna have efficient points of entries and exits.
Regarding the current situations of the market: a possible target might be 2020 on the spx being that the yearly pivot. Also, chances are we go there but slowly compared to what happened in the last few days, cause a lot of risk on pairs (audjpy, audeur) already had a decent move.
Oil is stalling a bit with cad basket making a pullback in every pair.
I think the best trade at this point is the gold short. I think gold might go down more than how the market can go up.
In general, we should get to a point in which every income trade is gonna need adjustments, so some pain might come in the next 10 days, and then the situation might stabilize.
All is gonna depend on: how many people are gonna short the market at 2000? Because even my grandma wants to short the market there.