So far this looks like a setup for a second down leg possibly even starting tommorow or early next week, however if we see some aggressive bull runs at resistance than this theory goes right out the window. So far a short term bearish picture remains intact, but the problem is, was todays lack of interest on the upside natural, or was this some sort of anomaly due to Sept 11. Tommorow should confirm for the multi-day players, as far as intra-day today the only play I took was short near the end of the day... patience is a virtue! Goodluck, -TD80
Today was a very odd one for me. I started with a list of short candidates and long candidates and I could have swapped them and done about as well!! Another odd thing was that issues that showed promise at the open in both directions did not do as well as issues that took a while to get moving. My instinct was to stay out of the market and it would have been a fine day to do so. Tomorrow could be the same if this was due to people not trading today and also taking the day off tomorrow to extend the weekend.