Today was the conclusion of the 3 day uptrend (very early in the day) and tomorrow should be a continuation of the DOWN trend.
But since I'm not positive, I will just ride out the overnight and wait for the signal tomorrow, either a buy or sell.
I just thought it was important to mention it might be a sell, since I previously mentioned I thought it was a buy.
The main thing is to be ready for panic cycle days. If I'd have known what today's panic cycle bar meant, I'd have made so so much money.
Briefly, the direction should continue until shortly after it takes out the previous high or low, and then watch for a change, and ride that at least until the other end is taken out.
Yesterday the dow had a high of 18349.86 and today was 18366.23. On the low end:
The dow hit 18,179.34 and today saw 18,091.64.
If you just took the minimum move from high to low, you'd have caught about 170 points, which is a lot. If you bought options expiring the day of, or the next day, you'd be too rich to read blogs already. That's pretty reckless though, and I'm not saying you should do that. That's just the upper limit on what you could possibly make. In real life you have to balance risk.
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