Imperceptibly, but without dispute, we know the longest day of sunlight has already occurred for 2008. We are not ready to plunge into darkness; summer has just begun.
The seed for that season has just been planted.
This is that pivotal moment in time that Jesse Livermore would observe the currentÂ pyschology shifting from bullish to bearish.
As traders we need to observe the same reversal of momentum. I try to forget the talking heads on CNBC and useÂ my powers of observation.
What toolsÂ do you use to recognize the reversal of trend?
After range trading for an hour or so after the FOMC minutes were released the market tested the upside.
With no clouds in the sky and sunglasses on, it was time to reverse.