This market is really slapping people in the face—overnight the contract open interest jumped by more than 20%, yet the price has been falling all the way from the high. Both moving averages have been breached down through, and the 4-hour K-line has straight up gone into a nosedive from the highest level. People in the know say this is a pullback-and-buy signal, but how is adding to positions while prices fall a “buying in” signal? This looks like the main players using the rebound to lay out short orders, while retail investors are down below still picking up chips. The longs in the account are reducing, while the position longs are increasing—plainly putting you all on guard duty. Once this wave of increased volume has been dumped, the price will still have to dig deeper. If you’re waiting to go long based on the idea of “buy the pullback,” then just slowly wait and count the stars.