≈ The simplicity of a chart ≈
Market’s are starting Thursday’s trading off to a bearish start as the major indices are all in the red. Most notably, Tech is selling today after we have seen tremendous runs over the past few week’s and months.
When you are trading on a day to day basis, some days will have more volatility than others. It is important to cut your emotions out, focus on your trading plan and trading rules, and do your job as a trader.
I was sitting in my office this morning running my daily routine, when my daughters came in to sit with me for a few minutes before their school day started.
‘All you do is look at colors and lines – it’s so simple’ Said my 8 yr. old. She was trying to tease me a little, but I said you are right, it should be simple, and I asked her to read a few of the trends in the charts I was looking at.
It was nice moment for me, and a reminder that I have had many times over the years, to keep it simple.
Read the trend, read the pattern, read the chart, decide based on your plan and rules, and move on.
Chart of the Day
QQQ Daily Chart
The QQQ – also known as the Q’s – are selling off in early trading down 4%. The Nasdaq 100 is up over +40% year to date and has been the strongest Index.
Video of the day
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