In this video I cover some of the basics that I look for when highlighting or outlining trends and potential support levels in a broken market. I use a simple ES_F chart to illustrate how I define a long term trend and what I look for in the context of that trend. I also share why I like to let the market breathe and give it some time to firm up and confirm that there is a potential bottom taking effect. Specifically I share how prior levels will start to act as resistance. Lastly I use some commonly traded stocks to show how bear market rallies will often be quickly and violent ending at critical breakdown points.
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