Another good perspective on the market of late is the small cap ETF 30-minute chart, below.
Note the channel over the past week or so, yet to give us any clear indication where this market wants to go next as price “surfs” it up and down. As a result, we have a whole lot of summer chop, which is why I am keeping my trades fast for now and sitting on that heavy cash position still.
If the selling intensifies this afternoon I am looking at some long volatility ETF’s, and perhaps a short financials trade.
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