💡It's important to have a good eye on what the market is objectively telling us, rather than being surprised by profit taking.
📉The declining 5-day moving average and rejection at the year-to-date anchored volume weighted average price signal not to trust rally attempts.
📈This is a great chance for you to do smart things like not buying the dip.
📉"For now with a declining 5-day moving average, there's simply no reason to be a buyer of the S&P 500 or of the NASDAQ."
📉Don't buy the dip just because it touches there initially, wait for confirmation of support in that area before considering a day trade.
📉It doesn't make sense to wait for the buyers to regain control, let the institutions do the dirty work of finding the support.
📉"Don't try to buy the dip, wait for it to flatten out."
📈Energy is the big winner this year so far.