Today the ES (S&P Futures) contract dropped over 50 points as of 1:45pm EST and has left many scratching their heads in awe. If you were watching the news this morning which preceded the large decline, you’d hear that many talking heads were impressed with the presidential speech to the United Nations. So how is it that the US financial markets have shown a momentum decline?
The simple answer is; it doesn’t matter! In our daily training room, we discussed our wants (new highs) and why we would NOT enter based on this information. Furthermore, we discussed our methodical approach which dictated the only option was to sell the market at that time.