Few Shorts

I don't know when to start or when to stop
My luck's like a button
I can't stop pushing it
--General Public

Toddo notes that he knows some people who are cautious here but few who are actually short. This is true at all tops. Some bears turn their hats around as prices march ever higher. Other cautious types can't stomach the pain of short positions moving against them.

What is important is how people are actually positioned, not what they say or feel.

And currently bulls are fully entrenched while bears exhibit no commitment.

position in SPX