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Just like the opposite of yesterday, market opened high and closed at the low. S&P and DOW formed a bearish outside day. Nasdaq and Russell back tested the S&H neckline. The big picture is that market remains bearish, traders sell every rally. Tomorrow we will have the Q2 GDP second estimate. Market expects 1.4%, but many people think the number is less than 1% all the way down from 2.4% when it was first reported.
Trading strategies
1. Swing trade for DUMMIES - sell short signal triggered on Aug. 11
2. Guerrilla trend channel - sell short signal triggered on Aug. 11 |
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