A small SPX500 pullback can be healthy if breadth stabilizes and sellers fail to extend the move. The problem starts when every bounce becomes weaker and defensive sectors begin to lead.
I watch the previous breakout area first. If price holds there and volatility calms down, the long side becomes easier to plan. If price slices through it without reaction, I do not want to argue with the tape.
The best signal is not just a green candle. It is a green candle from a level where risk can be defined.
I watch the previous breakout area first. If price holds there and volatility calms down, the long side becomes easier to plan. If price slices through it without reaction, I do not want to argue with the tape.
The best signal is not just a green candle. It is a green candle from a level where risk can be defined.
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