Well…  Monday did little to answer the question of when we’ll get a counter-trend bounce or whether we’ve already seen it.  However, it did help reinforce our stated belief that the dominant direction is down.  We’ll keep at it by looking for the setups that are working in this environment while we wait for the big wave 3 to show itself.  As always, market outlook and new trade ideas are in the daily issue of The Deviant Standard (PDF).

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