Well, I keep buying these dips, but my confidence ain't that great, so size is small and I quickly break my entries even. Hoping for a 5920 print before the Close.
Long term trend remains up, while the weekly and daily have experienced trend change. Weekly of course is the most important chart as it represents trader's feelings over the weekend. This is a long only market and I will look to take new longs once this resolved itself.
The January cash low of 5773 is a very important milestone that will need to hold in order for this to resolve quickly. I'm not too surprised of the pullback as less government spending necessarily means lower market prices in the near term.
I've been bearish for awhile but this week's selloff feels unnatural. Too much too fast? I dunno, but it feels like it's rigged. I guess what I'm saying is you don't need to always be in the market. When in doubt, go take a nap.
End of month dump after all? No. Please bring us up to speed. Well, there is such a thing, though. I guess it's the market pricing in Trump. They're not loving what they see so far.