Another throw down in the market with -558 points last evening. Just when you thought the Dow Jones recovered +800 points, the very next day, the selling continued with huge swings. During the sell down yesterday, there was first a fake breakout where the buyers were tricked to long at rising price to only realized that everything was gone in the next 1 hour. Once again, I studied the chart in depth and saw the supply zone combined with the fake breakout, it was detrimental enough to rip the market apart. Towards end of the day, the Dow touched the floor and remained there without much buyers. Intraday and short term trading is the best strategy for now. Looking forward to coach more traders to trade the Dow with me soon.
Ronald K - Market Psychologist - A Stock Market Opportunist
