Perhaps time to short, at least tactically.
The Russell has fallen below both the 50 and 200 day moving averages and seeming confirmed a breakdown below a descending triangle (sloppily drawn) the began to form at the beginning of the month.
On a daily chart of standard candles there is a gap to fill around 1423, perhaps we are headed there now.
A trailing stop above the 10dma to stem any bleeding in the event of a hard reversal (JPow flaps his horse lips some more tomorrow) and the Fed put is still alive as far as we know so shorting is always uncomfortable.
Trade accordingly.
The Russell has fallen below both the 50 and 200 day moving averages and seeming confirmed a breakdown below a descending triangle (sloppily drawn) the began to form at the beginning of the month.
On a daily chart of standard candles there is a gap to fill around 1423, perhaps we are headed there now.
A trailing stop above the 10dma to stem any bleeding in the event of a hard reversal (JPow flaps his horse lips some more tomorrow) and the Fed put is still alive as far as we know so shorting is always uncomfortable.
Trade accordingly.
Trade closed manually:
meh guess not. Probably are in store for a lot of volatility between now and the election but fundurrmentals still don't matter, just momo and the Fed put.