Now that I’m home, and on the other side of only four hours’ sleep, I’m ready to crawl back into bed and enjoy an all day siesta. That really isn’t’ an option for me, however, so I’ll just toss out a quick post, do a quick dog walk, and jump into this interesting trading day.
What I will say is that my multiple mentions a week ago about how “trendlines matter” seems to have shown itself to be true with flying colors, as we’ve witnessed one of the most meaningful drops we’ve seen in a year’s time.
The next challenge for the bears is the NQ, which has found support at about 5315. Break that level, and Phase Two of the Slow Meltdown can begin. I’ve got 43 shorts, but I honestly wish I had 90. Let’s all keep our heads through this. Opportunities abound.
