Market Report for Aug 31 2022
The markets continued their sell-off on Tuesday with the indices closing just below their 50 moving averages and a 50% retracement from the lows to the highs.
As already mentioned, we need to be prepared and ready for any change in direction. A drawdown of 50% or even 62% but the question to ask is do we want to be in trades when the market declines that much? Every book will be different so the answer will be determined based on your book.
Let’s go trade!