Market Analysis

My remaining Long position (ATR) was stopped out last night for a small loss. I'm OK with that, as I think the market conditions are no longer favoring Long trades.

The NASDAQ has now broken the consolidation pattern, and looks set to be heading south. I will now sit on my hands and see what it wants to do. I may want to pick up some Short positions, but let's just wait and see.

Market Analysis

The NASDAQ has just broken the ascending trend line, on increasing volume. It may be getting into consolidation, or start a new downtrend - who knows?

But clearly, the market conditions have changed, so I need to adapt my trading strategies as well.

I will stop taking new Longs, and pretty much liquidate all my open positions, when the market opens in the next trading session.

I'll sit on my hands and just see what the market wants to do next, before jumping back into the market.

Good Times Ahead?

The US market looks pretty bullish, as long as the market stays above the ascending trend line (denoted by the red arrow line).

Market volume has also shown signs of accumulation.

I have now entered a few Long positions in the market.

The market is now outside of the BB, so it may rest a bit. But I'm still bullish, as long as it stays above the red line.

If it continues up, I will add more Long positions.

We'll see.