By: Scott Redler
I couldn’t say enough over the last week how important it was to be cautious right now. There were clear signs that market dynamics were changing. I hope that the past week or so of posts helped you all tighten up positions, get hedged, and maybe even slightly short. We now broke the uptrend line on the S&P that has been in tact since July and got a 30 minute candle to close below it.
This is a significant technical development and the trade has officially changed.
