Volatility Coming Today?

I do not have another video with ideas for you because I think the volatility is going to be very large today and there were no real good setups. It was nearly impossible to find any stocks which looked bullish last night, while the number of favorable looking short setups was quite large. As is often the case, the market loves to confuse the majority of participants and because so many stocks look poised for further downside I think today we could see an intraday bounce higher. I have found that when there is an overwhelming number of bullish looking stocks the market is usually ripe for a pullback and when the number of bearish looking setups exceeds the bullish ones, as we are seeing right now, the market often experiences a short term reversal higher. Let me reiterate why there is no new video, the risks are too high. Do not misunderstand this as a bullish call, I have no idea if the market can stage a rally today. The trend remains lower and if we see strength today, it will be a bounce in a primary downtrend, not a reversal. If the market does look like it is reversing intraday, wait for confirmation on the chart (tredline break, getting above moving averages, higher lows and hihger highs) do not play guessing games trying to find a bottom (there is not one single person who has successfully picked the bottom correctly this year, think about that). Attemting to catch a reversal in such an ugly tape is a very sepculative trade and if you attempt such a trade I would suggest you trade small size with very tight stops. The best position for most market participants remains CASH right now.