WOW. Bulls Smacked Around Today

WOW. This was a good day to sit out of the market if you’re a swing or position trader. Of course, intraday, there are always moves and that’s exactly what the Boom Factor looks to uncover – intraday movers and possible new momo setups into swings.   I did not participate in the market today, but a look at the intraday SPY shows a very orderly sell-off with volume. It’s very had to say whether the market is truly turning over, but it is prudent to remain cautious.  This means a combination of taking a lot of cash home at night, jumping in and out of day trades, and swinging stocks with heavy momo and support.

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