We knew this day was coming…The elevator down day.
Yup, it always does – the market lulls everyone into a false sense of security, takes the steps higher a little bit at a time and the woosh! Sell the market off hard and fast and take everything down with it. Perhaps the bulls will get excited in the days ahead and buy the dip, or the bears will finally muster the strength to take this market down like it has always wanted to do. Either way, the best thing you can do for yourself is remain nimble and place a high priority on flexibility for your portfolio. In doing so, it’ll make it where you can react and adjust to whathever this market throws your way in the days ahead.
For now, I leave you with some short setups to ponder. Some are ready now, others, you’ll want to wait for some kind of bounce that you can get short on.
Needless to say, this isn’t the “Turnaround Tuesday” the market has prided itself in lately.