Chart: Anatomy of a Face-Ripper™

Today when it looked like the typical Face-Ripping rally was brewing, I mentioned that this would basically be the worst thing that could happen other than for the nimblest of short-term traders (which most people are not).  I’d much prefer to get the final flush over with so I can rebuild my longer-term positions again.  Flush denied, we’re gonna play the game a bit longer it appears.

While we were due for a bounce, I’m on the record as being in the camp saying we may not have seen the worst of what this fall has to offer just yet.  Until then, stick-and-move.

Anyway, an annotated look at the Dow ($DIA) today, quite a ride for those who came out to play, click to embiggen!

 

 

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