A bearish market right on top of trend line support - Market Roundup 24th Aug 2019
Channel: Trading Profitably
Date: 24/08/2019

A bearish market right on top of trend line support - Market Roundup 24th Aug 2019.

For the past two weeks, my market outlook was neutral to bearish. I am changing that to bearish view this week. Why? That detail is in the video.

At the same time, I am not suggesting initiating a new short trade now. Three of the market ETFs, $DIA, $QQQ, and $SPY are right on top of their daily Memory trend line supports. You may decide your next trade after seeing if the price can break them or if the price is bouncing up from them.

Whatever be the market condition, you can almost always find low-risk, high-probability trades in where the market, industry, fundamental, and technical forces are aligned. I call such trades 360° trades.

You may visit my forum (SagarNandi.ForumChitChat.com) for regular and live 360° trade ideas.  And follow me on Tweeter (https://twitter.com/SagarNandi) to read insights about the market, sector-industry, and stocks based on real-time analysis, not looking-back analysis.