Hello Everyone,
Quick Notes: The market had a logical pullback today, no one should be surprised by that (especially if you listened to the weekend newsletter and Steve's comments). The SPX lost -0.5%, while the Nasdaq lost -1%, and the Russell 2000 Small Caps lost -1.3%. Additionally most market sectors were down today, though most of the losses were fairly small. If it wasn't for earnings season I think the market would be in trouble here as generally earning season helps provide a buoy
for the market most of the time. That said trading has been tough of late, with stocks not following through like they used to. This is an environment to cut your position sizes and number of trades way back and be more conservative.
I did find a few nice looking trade setups tonight however.
enjoy the rest of your evening,
Matt
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4/15: SPX DVT = 4064, 2 day candlestick chart 3940
4/8: SPX DVT = 3970, 2 day candlestick chart 3940