Hello Everyone,
Quick Notes: Today's session can be characterized as AAPL or bust type day as you can see from the Heat map below. Similar to last Friday, today's session saw an 89% down day on the NYSE. Breadth was horrid. Over 900 stocks on the NYSE and Nasdaq made new 52 week lows today. A slight positive was that the VIX formed a divergence (have to monitor) with a lower close than Friday. Today, the SPX/ES stalled near posted resistance (4635) and sold off on the Powell's taper remarks. Volatility is elevated so buckle up and continue to to trade the charts in front of you.
Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to re-examine each night. Consider making a fresh top 10-12 setups each night and put on front page along with existing trades. My advice is to keep your total ideas to a manageable number. Lastly, it's best to wait at times for valid setups to form - sometimes less is more.
Please take a moment to look at the trade ideas.
