The Warning Signs Were There

(Below is a snippet of Alex’s work from the last week and the major US Indexes)

We all saw the major decline in the US Indexes and equities on October 10th. Were you prepared or caught off guard?

From Thursday October 4th:

NASDAQ –  Each morning I wake up and Futures are a lot higher, giving the idea of another bullish open, but The NASDAQ remains choppy really. All of September to now was sideways chop.


SPX –  The SPX is pushing along the upper B.B. Band and is also sideways and choppy lately.  The MACD is dropping.

From October 10th (before the market opened)

JUST A HEADS UP : NASDAQ – I did mention the need for a stop after going long though, in case it is just a back test, rolls over  and something uglier develops like a deeper ICL.

So now what do you do? Remain calm, let the dust settle and wait for optimal entries.  Have you taken a look at precious metals or commodities?

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