The #stockmarket is down in the overnight and pre market with the #SP500 futures ( $ES ) down 0.7% and the #Nasdaq futures ( $NQ ) down over 1%. There markets are fighting with the crucial blue line support/resistance that they managed to regain late yesterday. Losing this and market structure has changed and the door opens to a bigger correction. I have talked the last few days about how whilst above that, my bias was for short term upside. But there has been some real damage done to the market and investor sentiment this week. I am now 50-50 whilst above the blue line and bearish if we get below. There is #CPI data today and I won't be taking any major positions until that comes out and then I will see where the market settles. In these volatile markets, RISK MANAGEMENT and CAPITAL PRESERVATION is vital. It's very easy to blow up your account on high risk plays. Sometimes it is better to sit out these moves and not lose money. $SPY $SPX $QQQ #trading