MARKET SELLOFF AND THE BOT

The news channels were on all evening talking about the sell off.  Yes the rating was changed, yes the market was selling.  Best values for key stocks that we have seen  in some time.

Only an idiot thinks the market goes up forever, or down.  You must look beyond the talking heads and look for value.

In trading, we continue to use the Break Out Target Ranges:  BOTs.

The Short BOT was tested, then we had the BO.  Trend got the +5 and +10 targets expected.  We see a reversal at the +15 level, with a two leg push back to the SB.  Generally, the second leg is the preferred trade for the reversal.

The +10 level was acting as a 50CB.


THE FINAL LOOK

The market failed to reverse at the SB, and continued to plunge.  The EMA acted as a barrier until the short bull PB at the end of the day.

These are special times,  Avoid the fear, and play the BOTs,  It produced the short to take, and it was later rejected:  more selling.