Check out this chart with the combo RSI/Stochastic - really at the lowest level (along with several other times last 6 months). One might say a Bounce is coming any day. But, then we see the 3 black Crows (red over here) and that strongly portends more downside.
Such strong conflicting Scenarios aren't seen that often. One could argue either direction now from these.
But with ALGO's in Full Gear every single Day in the ETF's, there's no way to play this. All depends on what time the "switch" is pulled on the ALGO's, and it appears that once one switch is pulled the others all sense it and kick in within seconds.
Those people on CNBC last year arguing against allowing these, really knew their stuff, but the SEC didn't budge on this stuff. Use of it destroys the little people (like us). But then again, the argument would be - we could be doing the same thing, thus it must be Legal, problem with that is that no individual could afford that software, comm Lines, and all else. So is the Street Rigged, well I suppose one could argue it is very much so from the use of ALGO's, especially during a Downdraft, International Issue etc. Before a Broker could call/reach his clients, mucho damage is already done, maybe even over.
But, its like Love & War on the Street and All is Fair if you have the Money. If you don't well thats just too bad from the SEC point of view. Kinda like, don't play with matches.