Subject: Why Is The Market Down?

TAOST Wrap
Wednesday 8 August 2018 
Quote of The Day
"For every complex problem there is an answer that is clear, simple, and wrong."

-- H. L. Mencken

Why is the market down is a common question...probably one you've asked.  

The next time, you're wondering about this, just know:

- it's not because international markets are down...
- it's not because of some Facebook announced they lost several million subscribers...
- it's not even because of a crazy unemployment number...

There's only 1 simple reason a market declines... or rises for that matter.  Sellers being more aggressive than buyers drives the market lower... Buyers being more aggressive than sellers drives the market higher.

That's it... 

Everything else is puffs of smoke meant for your bottom.
ES 15m
TAOST Hi Power Zones were practically irrelevant today, but TAOST POIs turned us back to the upside at the lows.

ES Swing Chart (120m)

ES Daily
Price touched 2 important daily POIs... Overnight the top of TAOST Daily Balance Zone turned price lower.  During the day, TAOST Daily POI at 2804.50 combined with a Swing POI Level around 2803.25 to form a great reversal zone.

YM 15m

SPX Index Daily
TAOST Bias -- Account Balance $6,400
No Bias trades today... market didn't even offer any.

Click to see Bias Trades... 
Chart of The Day
Abbvie [ABBV] is today's chart of the day.  

Not my favorite long formation ever, but not the worst I've seen.  Helped by the fact that the stock was up today on a big down day for the overall market.
As always, make up your own mind and mind your risk no matter what you do.​​​​​​​

KIS,
The Trader​​​​​​​​​​​​​​

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