Drawdown is something . . .

For me, trading is all about mastery: the mastery of markets’ complexities and the numerous challenges of self-mastery. From the perspective of mastery, every drawdown is something to be embraced. Drawdowns tell us that we have lapsed, either in our market mastery or in our self-mastery. Perhaps markets have shifted regimes and are responding to new factors, perhaps we have failed to remain consistent in the best trading practices that generate ideas, translate them into trades, and manage those positions. Either way, losing money has a purpose, to make us better. It does not have to be a threat to self-esteem, it can be an opportunity to expand and grow oneself.

Question ? Do we get a Santa Rally or does the Grinch step in !

Like usual, I'll take my clues from the price action and the chart patterns that develop as we go and virtually ignore most everything else.

awareness seems to solve things

"Theory is good for the intellect, but action is good for the soul. It's also good for your mental health, your physical health, and your pocketbook."
- Robert Ringer  

http://etradingrealtime.blogspot.ca/                         

S&P 500 cash

Trend is sideways. Status in bullish. Price is on a four day run.

Futures contract, chart below, showing a reversal bar today, around resistance area, suggesting a possible pullback.

There is no rule that say you must ( play ) be in the market.

"First, do not be invested in the market all the time. There are many times when I have been
completely in cash, especially when I was unsure of the direction of the market and waiting
for a confirmation of the next move." - Jesse Livermore