A Sell Signal triggered at the open yesterday and a valiant attempt at a recovery off an important support area including the long support line from the Election low.
The market is now back at the important 55 ema which has supported recent pull-backs and is a pivot point within the defined channel. Much more selling and this opens up a trap-door for a visit to the bottom of the gray channel, or even lower.
Be prepared for whatever comes next:
To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line system before the market opens, and intraday alerts when appropriate, please become a Member and Sign up for Alerts & Observations – includes access to Members Area and the Explanatory Notes for all of the concepts discussed.
Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.