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Gapped down, stucked in narrow range, short bodied -> NO TRADE TODAY

5 min Emini Nasdaq 100

Hi,

How is it going? Price gapped down today again..is this the start of a new downtrend? Let's wait and see for a few more days. I have said time and again that the apparent uptrend could not continue forever, there must be a technical correction somewhere.. We are going to wait for this to happen.

However as you probably know by now, there is nothing 100% sure in trading... We can have a hypothesis and wait for the market to work itself out. Be prepared mentally when it comes and take advantage of it.

Posted by Michael Taylor on April 20, 2009 5:45 PM |

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