"He who every morning plans the transaction of the day and follows out that plan, carries a thread that will guide him through the maze of the most busy life. But where no plan is laid, where the disposal of time is surrendered merely to the chance of incidence, chaos will soon reign."
– Victor Hugo
And so we can see that the expectation of an Echo high at the 2nd major arm of the T structure on Black Friday was correct, and although we had a couple of false starts and a re-test of the high, yesterday's action confirmed the end of the first move of the Trump rally.
We can now expect the market to be somewhat choppy as it is a reflection of the late September / early October period, and wait for the market to work off its over bullish character.
As the market is still in a strong uptrend I do not recommend shorting it (yet).
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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 & entertainment 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.