Today the tape was your classic fake out. You got the initial uptrend all day until the last hour of the day where you get a sell off out of nowhere? Out of nowhere i do not think so… There were a few signals which told traders something was about to turn especially in tech.
You saw NFLX getting crushed, AMZN reversing and the Q’s getting slammed all before the SPOOZ aka ES_F really gave up her lunch… if you are worth the machine your trading on you should have told yourself this market cannot hold itself up after the 1240 failed.
Think like a trader, you must understand this market is about correlation of index’s and assets. Tonight
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