Right now it's time to be patient - just like the dog above, because we don't need to find ourselves getting foolishly into a trade and then experiencing some nastiness. So, we gotta be patient right now. I'm looking for a bullish entry, but first I want to make sure that the markets all line up. Here's a screen shot of the SPY, IWM, DIA, and QQQQ - i.e. "the markets".
The key things I'm looking for is the markets to start gaining momentum to the upside. I'll be able to tell this via candles and the stochs. I'm not getting into exacts right now to explain my trading, it's just going to be a work in progress and you'll learn as we go.
I'm thinking we have another day or two down and then we go back up. However, being as close to the 50 day moving average as we currently are, we could be ready to pop back up on Monday.
Until we do get our entry signal - just be patient.
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