Final Hour: Sell-off Or Surge?

The Dow looks like it could make new lows. Nasdaq is getting smoked.

 

yikes..what happened...sideways dull all afternoon...I go take a dump..come back and whammooo...

 

You and the market took a simultaneous dump, DOL.

 

Screw TA...I think there may be some correlation here...

 

The ES is exhibiting a gorgeous descending (diagonal) triangle formation. If we break out of the upper trendline tomorrow, it should be a very nice trade to the upside.

 

The short-shart correlative.

 

are you sure???

 

We're going to have to install a GPS and thermal tracking device on TheDude.

Don't worry bro...it'll only hurt for a sec

Sorry...couldn't help myself.

 

Am I sure it's a triangle? Yep.

Am I sure the trade will work out? Nope.

Am I sure I'll place a buy stop a tick or so above the descending trendline and adjust it during the day as needed? Yep.

Am I sure this is a low risk trade with a clearly defined profit and stop targets? Yep.

Am I sure I'll let the market tell me if I'm right or wrong. Yep.

Am I sure the market won't keep going down on Tuesday? Nope.

Am I sure if it does go down and I don't get filled I'll just wait for another opportunity? Yep.

 

Yeah, but are you really sure?