Yesterday the Dow formed a hanging man candle which suggested that buyers were tired.
No doubt there is weakness in this bull market as the legs begin to wobble.
The red trendline is our line in the sand....any solid close below!
If 33,000 breaks...an acceleration could occur.
So often when the markets top and the initial drop bounces, we get further selling and the "news" follows.
Like walking on eggshells in the dead of night.
Bulls have to be careful, a stop loss tsunami may trigger.
Again, buying puts is prudent....that pesky red line is the dam that holds back all.
Interesting timing in that precious metals are taking off...a huge cup and handle pattern has completed.
Good trading
No doubt there is weakness in this bull market as the legs begin to wobble.
The red trendline is our line in the sand....any solid close below!
If 33,000 breaks...an acceleration could occur.
So often when the markets top and the initial drop bounces, we get further selling and the "news" follows.
Like walking on eggshells in the dead of night.
Bulls have to be careful, a stop loss tsunami may trigger.
Again, buying puts is prudent....that pesky red line is the dam that holds back all.
Interesting timing in that precious metals are taking off...a huge cup and handle pattern has completed.
Good trading