No setups tonight but i will do something i haven't done in a little while: Breakdown and look thru the weekly charts.
As we head into a historically bearish time of the year for stocks: I am starting to see more and more charts hinting that we are setting up for lower prices in the not too distant future. This is interesting because come september/october that's when the really big money "comes out to play". Will be very interesting to see what the 'big boys' wanna do with their money.
I hope these charts are misleading and wrong because if these charts do indeed play out things will get very shaky in the fall. But we need to be prepared for the worst and NOT be victims of any surprises cause when it comes to trading markets: ANYTHING CAN HAPPEN!
I will as always play it with both sides open and i will ALWAYS trade where i see an edge: long or short.
good luck.
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