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Sharp Relief Bounce Into Resistance – Watch Again for Higher Lows- Dec 11, 2018

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MARKET TEMPERAMENT –

We stare down a sharp ‘buy the dip’ event here as the morning progresses.  This kind of relief bounce is often seen in the bearish markets that we have at this time. Bounces in bearish markets can be fierce so don’t try to predict the future by setting a trade at the resistance zone.  Markets can move much further and faster than you think they can.  We remain engaged in an intermediate bearish motion, overall.  You’ll notice yesterday’s commentary that suggests sharp bounces could be in focus.  Theese kinds of bounces do not hold without pulling back to hold higher lows.  We must continue to watch our edges carefully.   Could we dramatically bounce further as we drift into the end of the week with minor resolutions around Brexit next steps and the trade deals afoot?  Perhaps, but volatility is king and that means – TREAD LIGHTLY and manage your size on the smaller exposure end.

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PRIOR DAY’S END OF DAY PERFORMANCE RECAP PER CONTRACT-

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