Hi Everyone
Do not be concerned if you cannot find many or any decent patterns like neat flags right now.
The market is telling you something – that it’s temporarily sick, so you’re better to be patient, observe and allow the technical patterns to rebuild themselves.
We do not want to trade in a panicky whipsawing market, and you must appreciate that even being neutral in the markets IS a position in itself. And right now it’s a decent position to be in!
It’s at times like these when I receive emails from outside non-subscribers who have been caught out by the wild gyrations because they don’t have a plan, and they cannot recognise when trouble is imminent.
But we can. We know when the patterns don’t look right because they’re not neat enough to make the high probability trades that we like. And of course there’s the OVI which has been such a great help as well.
I won’t show any charts tonight. Relax, observe the big liquid stocks and the indices (Dow, Nasdaq and S&P) and soon enough the patterns will come back.