Short term trend turns down.

I have a small slide show on ‘Price leads Momentum’ Here.
My blog ‘Practical Technical Analysis’ now has the subscribe to buttons for RSS feed. Right sidebar.
Today morning, Asia was down. the Nifty opened down with a gap. What was the possibility that the gap will be filled ? Not much since this decline came after a 600 point rally. After the first 15 minutes, it became clear that the Nifty did not have the energy to rally. The trades if any have to be on the short side. As it worked out, today’s trades should have made money. But, that’s not important. The approach should be to trade well. Leave the results to the markets.
After a rally from 2540 to 3130, a decline to 2985 is a correction. Or, was the entire rally a correction of the onging bear market ? This chicken and egg discussion can continue for long. So, traders should go with the short term trend which is down. Investor should wait patiently for a deeper correction. Even if this is a sideways market, a deep correction should provide profitable opportunities to buy.

Have Fun!