Profunds index and sector trading

[was Steve]

Marc,
The markets teach us lessons every day and its always changing the rules on us to make this the hardest game to win at on earth.
By all rights we had a great chance of going up today based my charts. That said, there comes a point where the signals that worked going up cease to work/work as well as we reverse direction.
I have specific TA rules i follow in an uptrend and in a downtrend. The hardest part is the transition between the two because you dont know which to use. imo we are now most likely in a downtrend so those are the rules i will use. in fact, the downtrend realistically started on the highs of march 21st. But that wasnt clear until todays follow thru to mondays HUGE failure. the big plays will be shorts but i will allow for smaller.
This has been anything but a trending market. for weeks all we have done is gap up or down huge then not move for 2-3days then gap somewhere else. It has been very hard to trade. If we do indeed get a real downtrend going it will be easier to make money.
good luck
steve