Apr 5 in General discussion
Broken trend
Yesterday’s swift move down in the afternoon resulted in the SPX trend breaking that has been building higher since first week of January. That doesn’t mean the sky is falling tho. It’s an awareness thing. Lots of trades to the upside during earnings season to be had. What it means is that the likelihood that those trades last long has diminished. Usually in this situation I would lean toward entering something and immediately setting a GTC limit order of a 50% gain. That’s about as much as you are going to get fighting the trend. Earnings info won’t last long and if the fed doesn’t cut rates I could see the sideways to down lasting until the election.
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Broken trend
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