SP500 Rips. BOJ Next.

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sold off like I said it would yesterday - use that strategy all earnings season because it works - the key is thinking through it. Too many new traders want everything handed to them; it doesn’t work like that. You need to learn to think deeply and critically to solve things.

I am short that as of the close today and a few thoughts into end of week.

The markets are always euphoric and they ebb and flow meaning rallies, drops, rallies drops…etc. - It’s always the same. The key is understanding where the big turning points are and I do that with the charts.

The Bank of Japan meeting is tomorrow night.

Then you have the QQQ/Nasdaq in the final leg of move higher. Whether or not you believe or understand price analysis is up to you, it’s what I use to determine turning points in the broad market.

I don’t think this is the “top” but it is a higher probability situation where we can see a -2% or more sell-off on the broad market.

I talked about it on the show last week.

As of today I have tail risk shorts on certain names based on this idea.

The article of the week is out tomorrow - again. If you have questions please submit them on the site with the link here.

Dan