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Are we there yet? Great question! I don't know...
Here's what I do know. We tested the extreme lower range of our Weekly Trading Zones and bounced back. Today's only Tuesday. Today we had an interest in selling rallies. If we can open positive tomorrow after the Asian and European sessions, we may be prepared to buy the dips. If we do buy dips they will be on a very short leash in the grand scheme of things.
I had an interesting conversation today with a very intelligent fellow. He said to me "I'm a trader but I'm not a scalper". Which caused me to think about a comment I hear at least once a week "I'm a short term investor". hmmmm.....
Which box do you come packaged in?