Momentum

By -

I am struck by the loss of momentum in the market. What happened from March 9 to about March 20 was simply explosive. But look at two things: (a) the waning strength of the rise, almost like an engine winding down; (b) the broadening range, giving more opportunity for downside.

I entered a short position on the /ES (10 contracts at 840) with a stop at above 844.