There is no net buying. Selling activity and volume seem to indicate
that the market is still imbalanced to downside. It appears that the
market has to move lower to bring in the last seller (i.e., shut off
selling activity) and to bring in buying strong enough to stop the
down move.
Therefore, it appears that the down move is continuing -- but
perhaps at a decreasing rate.
when you stick to your earlier bias and ignore the new market development, you end up only see what you wanted to see and then keep adding the losing positions. Eventually when you realize its the time to get out, it became too late, you ended up the opposite. In short, you became a barbarian chasing momentum. it is like was put on the tip of wave, emotion took over every decision.
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