$DWA stopped out break even

The equity markets are falling hard today which I said could happen, and which is why I keep emphasizing stop losses. $DWA was in the money yesterday but has now moved back into my entry at 16.99 and therefore I got stopped out break even.

The next bounce territory is 16.50. This trade can only be taken though if the SPY is showing a bounce, because it's a high risk trade in this tape. Watch for an SPY bounce at a pierce of the 200 DMA, looking at 138 which is the gap window of a previous candle.

Otherwise, we are going to start looking for getting aligned with trend and looking for short selling patterns.