No leadership

After last week's action all growth leadership is currently broken. We also had a big down week opening at highs and closing near lows.

At the moment I see no reason to be long, I also see no r/r opportunities to be short.

After the close last week and how much stuff pulled back I would expect it is more likely we bounce a few days than make new lows but there really is no telling.

I think the most important thing is to remember the bounce on Thursday, how it felt like you missed something and how much FOMO it gave, and then what followed on Friday.

If we are going to go lower there are going to be many similar big convincing bounces... probably more convincing and multiple days. Its important to know what you want to see for this market to deserve your risk or else every bounce is going to feel like an opportunity.

The most important thing to watch for me is where is the leadership? Right now I don't see any.

Maybe that changes soon. Have to always stay open minded.

At the moment though I wouldn't be surprised if we bounce Monday or sell off even lower... I see 0 opportunities to long or short without completely gambling.

I mentioned some potential shorts to look out for which if they are near setting up I will share in the X sub.

I think right now though the most valuable thing to do is study what exactly do we want to see for a tradable bottom?

The opportunities that come out of this will be the best and I think studying my April 12 report from this year's market bottom will help prepare for the next one.

Go through the April 12 report below where I laid out exactly what I saw that made me look to get long and the stocks I decided to focus on.