Axe Throwing Tuesday, page-25

"Add the very poor correlation of our market to almost every overseas market nowadays, indicates that FTA and trading psychology are all that seems left as tools now.A is already dead in the water, and futures traders will get frequently burned."

I figured surely sentiment would be risk-off with overseas markets falling two days in a row while we were on holiday. Also, why would we suddenly be a hero when we've been a wimp since the start of May? But the sentiment suddenly changed from risk-off to bargain-hunting. And that was telegraphed in the TA - bottoming patterns. So you're right.

I've never 100% trusted TA. Did TA telegraph Nasdaq fall? Maybe - wedge pattern followed by inside day at the top. Maybe I should trust TA more.

Nasdaq daily: