The Nasdaq and associated Ultra long ETFs, QLD and MVV, cratered yesterday. Trade below the 20 day moving average, on respective charts ,accelerated to the downside. I was overthinking the situation, and tried to trade a bounce off those 20 dma’s. Wrong move. Futures are up this morning. I’m going to focus good setups and hit and run trading here. Calling a trend is tough. Note that the market is in bear mode with yesterday’s sell signal, but it’s going to continue to be choppy in thin pre-holiday trading.
