VIDEO: Market Update

I think I've been pretty clear on expectations, what the F_O_M_C knee-jerk was about and how it has not only played out, but how that is setting up the next cycle. Also I think I've been pretty clear on head fake/"W" base expectations as well as the strength of the respective moves.

It's important to understand all of this so you can use the information and judge what kind of risk you feel comfortable with. The stronger the base, the more likely I'd trade the long side, but I'm under no illusions as far as how the strength of any potential hitch-hiking longs and under no illusions regarding the risk of such longs on such a small base.

I did cover the head fake concept on a larger scale and within the base, those may be issues that make a possible trade more or less attractive to you. If I set an alert for a move below yesterday's intraday lows and find accumulation is stronger and we now have a solid "W" base, I'm more inclined to trade that area as risk has dropped, the head fake move makes the timing probabilities of an upside reversal much higher and overall probabilities (based on the 3C charts of course) much higher.

I hope you don't get too much out of the video because if you do, then I haven't done the best job of conveying expectations and what looks like or doesn't look like a more probable trade.

You should see an emmbeded video player below, if not then click on this link which will take you to the video which is unlisted on YouTube, so only this link will get you there.