The market was looking recovery until the Trap unfolded. The rally was enticing, almost convincing, and more than anything else it is hardest to sit out, to do nothing in the stock market. Don't get sucked in and trade for the sake of trading.
The DOW went to the 40 day moving average coinciding with the psychological level of 13,000 and was turned away.
S&P interacted with its 40 dma in the same manner around the 1425 level. Consequently, the 200 dma was a factor at 1440.
NAZ not as much as the aforementioned indexes but pivotal just the same, near 2515.
Compare this reality as it played out to this commentary and I would reiterate this diatribe.
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