Rising long term interest rates and the FED’s actions have
sent the markets in a tailspin. We have been in a bear channel for the last
month and a few days ago attempted to break out of it. We are now back in the
bear channel and will likely continue to do so until we have a confirmation
that markets have reversed. Look for a push in the NQ past the 2900 zone.
There is a lot of open room and we will likely fill the bear channel gap. Use
the pullback as an opportunity for another big short run, but play both sides.
Trade the trend and don’t pick tops or bottoms.
