The Reason I think the market is short term topped

I think several things from the Fed waffling around with the interest rates like a kid too scared to jump in a cold swimming pool to the technicals on the technical charts of the NASDAQ is reason that we are going to have a pullback.
Since I figured that we are going to have a pullback, I wanted to position myself to be able to take advantage of this. Consider the below chart:

I saw what looked like a double reverse hammer top signal(circled) and that usually shows that a top is happening. Now grant you, upon closer examination the out of the two hammers circled, the left one has something a bit wrong with it by having a bit of a bottom tail, but the top tail is longer. The next candle in the circle is perfect. A hammer with no upper tail.

So besides me making money via following the trend and fading the gap like I did in the morning, this trade that expires in Dec. is a bit longer term, as this is a longer move trade. The option is a little expensive and would have to move a lot to double, but it is what it is and I am executing as best as I can with the info I have.

I do expect this to work. In the advent that the market suddenly starts climbing again I will wait for a more definite top signal then double down. Until then if that happens I should still be able to make inter-day plays like I have been.

More Later!

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