The bulls are showing very little desire to keep the down-up-down-up pattern of this market intact today, as the SPX is making new intraday lows as I write this post.
I’m holding off on adding any new positions today as there is absolutely no edge in this market for trading to the long side.
Sometimes the best thing you can do for yourself as a trader is to know when to standby and let the market work out its quirks until the conditions become more favorable to trade long.
For now, keep this list of trade setups handy so that when the market does become bullish again, you are ready for it.
Here’s the bullish trade setups:
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