S&P 500

I wanted to short this opening so bad I almost had the tie my hands behind my back to stop myself. A gap open above a day like yesterday just "looked" like a shorting opportunity to me.

However, although my pattern book does show a downward bias from several different angles, I could not dial this in tight enough to meet my criteria for trading it.

We can just watch it and review tommorrow what transpired. I will also continue to research this to see if there was something that I missed which would have given the green light for this trade.

I think it is of the utmost importance to have discipline in determining when and when not to trade. I may miss alot of trades, but all I am concerned with is what happens in the ones I do select. I have displayed the TICK and TRIN with this just for a different look than most of the other charts I post here.