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Downtrend Confirmed

Nov 12 internals

Trend day down again, similar to Monday’s session, with few bounces that were shorting opportunities.

Our Trend Day indicator once again called the action at 10:15 am and if you only took a short on this indicator at that time you would have bagged 20 SPX points by the close.

$ Weighted Buying Pressure trended downwards all day, accelerating into late afternoon, a sign of more down to come, usually.

In a downtrend, bounces should be shorted until sufficiently bullish readings on market internals signal a reversal, otherwise, ride the tide downwards.