Red Auerbach on Defense

Defense has so much to do with the current market, regarding trading and strategy. 

Today, for example, after a lousy jobs number, a weak AAPL, some horrific earnings sell-offs (DATA FEYE GPRO), and a general drift lower since Monday, bulls appear to be initially defending the 50-day simple moving averages on the S&P 500 and Russell 2000 Indices. And now the Nasdaq is flipping green back above the 4,700 level.

Both sides of the tape have necessarily needed to play great defense in this trend-less (overall) market climate for a good while now, today being the day for shorts to quickly back away into this rally. 

It remain to be seen if bulls can follow-through to the upside next week, since they did fail to do earlier this week after a rally on Monday. 

We also continue to watch the U.S. Dollar closely, as it flips to green as I write this, considering the bounces in miners and commodities. I will flesh out that thesis and some actionable ideas for Members over the weekend.