The market turned bearish, and how I could short the top - Market Roundup 3rd Aug 2019
Channel: Trading Profitably
Date: 2019-08-03

The market turned bearish, and how I could short the top - Market Roundup 3rd Aug 2019.

Instruments Discussed: $USO/$CL, $GLD/$GC, $SPY, $QQQ, $DIA, $IWM, $AMD, $HPE, $KMI, etc.

In the previous market roundup, I mentioned that if the daily Memory supports were broken that would indicate market weakness. All four market ETFs made lower lows and cut the memory support lines. They are not in an uptrend anymore. Breadth is bearish. Sectors are also weak. 

The market dropped right after displaying bearish headwind in many of the market ETFs as well as major stocks. That headwind sign helped many CUE traders be ready and protect/book profit in long positions. 

It also helped me initiate very lucrative short trades while others were still bullish. I found those ideas were found using 360 top-down or bottom-up analysis, as were the cases for AMD, HPE, etc. I had shared those with the public before knowing their result, as is my practice with forum and Tweeter posts.

Whatever be the market condition, you can always find low-risk, high-probability trades in where the market, industry, fundamental, and technical forces are aligned. This week was no different. 

You may visit our forum (http://forums.SuperiorProfit.co) for regular and live examples of such 360° trade ideas.