Here is why Im not sweating the action today

I think that the market is right on the top and just before a fall...lets look at the chart:

If you look all the way back on the chart, everytime the chart was topping near the top there were red candles. And look at the curve of the candles, the arc is topped and starting to curve down. Also, the top indicator, the RSI is starting to already come down. When the RSI goes one way and the candles are going another, thats called divergence as the candles almost always turn and follow the RSI. The macd, the indicator on the bottom, is also in overbought territory.

So we are going to hold our put. Hopefully things drop tomorrow, we are up against a time wall, options expire this friday. However if it is down big, we will make good money.

Tradinginsider