9/3 Recap. 15 Out Of 16 Weeks, My Best Trade Setup Has Worked Out

I've Outperformed The Market By 19% Since I started This In June

The market continues to worsen. I posted a SPY chart below, I’ve been pretty adamant since that 200 day touch recently near 430 that this was going to roll over and it finally has. Today was capped off with a bounce at the uptrend going back to early june with the caveat that we put in a bearish engulfing candle there. This isn’t a bullish setup at all. As you can see all the moving averages are pointing down, the RSI is pointing down, and the MACD is showing no signs of life. So as I’ve said for a while, this is not the environment to go long most equities. Economic data is seemingly worse and worse but the media is pinning its hopes on a “fed pivot” to save stocks. Isn’t that crazy talk? The fed cutting rates is what is needed to save stocks, not actual good numbers? What a world we live in today.

Today’s Unusual Activity & What Stood Out