Yes it’s an obvious statement but some of my proprietary charts are showing some “off the chart” type – chart movements that I really don’t know how to interpret right now. One way of looking at an extreme reading is that it’s an indicator of some major move, like a crash is impending. Or, we could be ready for some type of bounce, which is why it’s so important to trim profitable short positions now and let only a small amount ride or be in cash. If you’re trying to trade in and out of these major intraday moves it’s easy to get caught on the wrong side of the trade.

Have an amazing weekend, get away from the markets and all the pundits opinions, and enjoy the sunshine.

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