Welcome back everyone. Today the market continued it's selling pressure despite some of the community thinking we would see a bounce (especially in Apple) but as we all can see, that did not happen. I would like to take this Daily Analysis to go over some of the key points, and strategies you need to be implementing during this time. I am doing this because there really isn't much to say other than the fact we are in a correction, we are going to see a bounce very soon, and I am looking for a reversal closer to 137. I will also be shorting any bounce now. 

Before I get to my tips though I would like to say - (Apple at the bottom by the way)

The homebuilders are one of the only, if not the only sector(s) still holding up right now. The banks have failed, techs, healthcare, and the list goes on. You need to take notice of this. when the market does reverse, use these as leading indicators, and as really good longs.

The banks continued weakness overall. Some strength in there with Bank of America, but if I would willing to guess, I suspect that to fall through more soon (if there is not a market bounce).

Amazon is still weak. it is below all the key moving averages and selling off, along with all of it's counterparts.

Google is still falling after failing at the ascending triangle/wedge. Google is at some support right now but because of the severity of this sell off I suspect 636 to be a better place to look to go long with a reversal candle.

Apple is really weak. Anyone who is still holding this as a trader should already be out. If you are an investor, I would be sweating. As an investor you really don't want it to fall below 520. That send it down even further. I am expecting a bounce very soon in Apple, whether that is tomorrow, or Monday. I do not know. But, I do know that I will not be playing this one because it has not given me reversal on a daily candle yet. Needs to be a strong one also. The last I would like to say about Apple is this -- DON'T get wrapped up in it. Just because you are iPhone addict does NOT mean the stock goes up. Just because they come up with a new product it does NOT mean the stock goes up, just because they have gone up so much recently, does NOT mean it can't go down too, just because it your a long term investor it does NOT mean you should never sell. Well, that's my Apple rant. I say all those things because of how many people I talk to that think it is just going to go straight up. That is FALSE. It can't and won't go straight up. Don't get me wrong though, I am not saying Apple is done for good now, I am actually looking to enter long soon. All I am saying is that you need to beware, it is company, a ticker, it's NOT your friend.

Now, to my tips for how to handle this market --

1. Please do NOT trade unless you are experienced "shorter", and if you are not, use inverse ETFs.
2. Develop a watchlist of strong stocks that have performed well despite the sell off. These will be the ones that will go first when the market goes. 
3. Just because you are not trading, doesn't mean you are a bad trader. 
4. Learn from this. There will be more corrections. The best thing you can do is to write it down so you can remember how you treated last time.

That's it. Good luck

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