The market is behaving as expected for the day after a holiday. And coming off of a nice volatile market last week, we need to be extra careful not to get over-aggressive when the market is chopping around.
This morning we had a high-probability long setup that failed right off of the trend line. When the S&P emini broke to the downside, it was clear that sellers were still in control. With that in mind, we can still look to participate in long trades, but we need to wait for confirmation that buyers can grab hold of the momentum and drive price to technical targets.
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