Anatomy Of A Down Trend Day

Our TrendDay alert today (free for all subscribers) turned out to be spot on. The odds predicted a 90% chance for sell off session and that’s exactly what we got. And if that subtle warning didn’t sink into your tryptophan saturated rodent brains then the Zero was there to paint a crystal clear picture throughout the day:

This is pretty much textbook, folks – the signal spent most of the day below the zero mark. There was a late session attempt to crawl above VWAP but it failed ignominiously. Better luck next week? That remains to be seen as I am not seeing any signs of a bottoming process just yet. Long weekend surprises are always a possibility (especially these days) and I’m sure that many of you will spend most of your time trying to mentally masturbate some type of edge here.

Let me however remind you that we are traders not gamblers. Unless our charts tell us to go long there’s really not much for us to do right now besides either holding short or to take profits and wait for further instructions. Save yourself the mental anguish and do what I do – just listen to your charts. And if they don’t tell you anything then simply wait until they do! You don’t have to catch every little swing of this crazy tape, right? Besides, unlike many of the perma bears who are chasing the tape down right now we stainless steel rats went short on November 8th, right? I hope you heeded that warning and if you did then you have the luxury of missing a few handles.

Happy Thanksgiving to all you North American traders. Try to forget about the market for a few days and instead enjoy the festivities with your friends and loved ones. I for sure am going to enjoy a few days off 😉

Cheers,