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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (59648)	8/8/2024 10:17:06 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69305

Abbreviated index update. I had a commitment last night. The fact we set a lower high in the span of 24 hours on the major indicates a higher than normal level of volatility. Traders are nervous and not reacting to trends as opposed to short term news. This is the environment where an accidents can happen and we get a dramatic move either up or down in a very compressed timeframe. No point trying to pick a direction right now. Mainly a market for day traders. Everyone respect your stop losses on your remain position. You should have been stopped out for the most part on the way down. True bottoms take time to form so there is no hurry to re-enter the market.