FADE TRADE-

I'll have some charts up in a moment, but as a lot of you have probably already figured out or entered, we should have at least a fade trade in SPY and QQQ, also IWM, but I prefer the first two at this point. The issue is, it may be intraday depending on how bad the divergence continues to develop and how long the averages can stay up to allow that to happen so if you are not Reg. T. compliant, just keep in mind the day trading rules.

I'll have some more charts to show you where we are now, I wouldn't say we are at a full on short, perhaps we are going to make that "W" base after all, but for now, I'd call it a fade trade.