Don’t Get Emotional

Look at the following charts for the SPY, DIA, QQQ and the IWM. All of them printed a hangman type candle today except the IWM.

Don’t let your emotions blind you just because the market bounced off the low of the day. The odds are the hangman candles could be signaling the next pullback. Be humble, be defensive, and don’t get emotional. Keep an open mind and prepare for both sides of the trade.

SPY:



DIA:



QQQ:



IWM:




Disclosure: Long SPY PUT & IWM PUT.