Patience is the only move to make for now.

⚠️Alright team, nasty action from the $TICKs all morning, as the selling pressure isn’t easing up here. $SPY is trying to hold support around $425, which will be a key level to hold here to avoid even more downside ahead of the Fed on Wednesday.

🔴 In a perfect world, things will hold support here and bounce later in the week, at which point we’d look to aggressively short in the indexes.

🔴 We have seen that once an index gets to 4% down, limit down becomes a magnet!!

🔴 My Market screener is showing RED all over. I am basically using three copies of my custom indicator and looking for momentum, trend scoring and UDV volume markers.

🔴 VIX is over the healthy limits for entering trades here. Cash is king.

The screener includes market breadth and long term trend indicators on the bottom. If they are squished, just stretch the screen.