Today the S&P 500 fell another 6.66%. Technical support levels are giving only minor intraday pauses instead of the normal multi-day bounces we normally see. For the time being, fear is leading the market.
As long as this continues, I will only be trading intraday. Even though I believe that most stocks will have have huge rebounds when the market turns, right now it's simply too risky to hold significant positions overnight. The only position I continue to hold is a small short hedge on the SPY I took out against long swing positions I've since been stopped out of.
Until the market normalizes, I will not be posting any swing trade setups. When the market bounces, all stocks will bounce. But be careful and do not try to catch falling knives under these conditions.
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