If futures is any indication...
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When I saw the breakdown today and it was in the wedge and couldnt hold 428 I said, well we have to take out the 420 to the left for that lower low.... and if futures is any indication how this week will end.. I am thinking 408/ 409? It's temping to say we then follow up with the 390s (dont worry, the market is going much lower than the 390s... MUCH LOWER! We arent even scratching the surface yet, we truly are not. Read the chart properly and you will see.
Back to the point, we may get a bounce if we hit the 408/ 409 area this week. It would actually be nice to see a bit of a bounce because you know what to do on that bounce, right??? I hope you do!
Keep those emotions in check. The time to short is not when you are at 408/ 409 on the week. If anything, that might be a time to buy for a bounce (I personally will not). The time to short is on a bounce and a re-test landing for the next lower high.. Look for the setup. There will always be one even if not in the area you thought. Stay disciplined! The market has boundaries to how fast it can fall, in some essence... it's not the wild wild west people think.
Back to the point, we may get a bounce if we hit the 408/ 409 area this week. It would actually be nice to see a bit of a bounce because you know what to do on that bounce, right??? I hope you do!
Keep those emotions in check. The time to short is not when you are at 408/ 409 on the week. If anything, that might be a time to buy for a bounce (I personally will not). The time to short is on a bounce and a re-test landing for the next lower high.. Look for the setup. There will always be one even if not in the area you thought. Stay disciplined! The market has boundaries to how fast it can fall, in some essence... it's not the wild wild west people think.
Note
Update: 410-413 area would be what I would look for. See what happens...
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