Video Stock Market Trading Review 8/27/07

Markets were lower today with declining stocks outnumbering advancing stocks by a margin of 2:1 for most of the day. Is this sideways action distribution (on the 10 minute timeframe) that will lead to a renewed leg lower? Or is the market digesting recent gains and sucking in more shorts for another push higher? It is too early to answer these questions, but with a declining 50 day MA, be prepared to exit longs quickly if key support levels are breached. Be patient and objective, do not force your will upon the market, it will not listen to you!