A mild day of recovery after yesterdays blight, but the unknown at present is how much of a bounce we’re going to get. The charts indicate it will be a short term affair before potentially another leg down. All systems, including US Power Setups, are in defensive mode and will remain that way until trends start swinging higher again. Economic growth and consumer confidence has been shaken this week, although the Federal Reserve did make some upbeat comments last night which stabilized markets today. Risks and volatility will remain high in the coming weeks so trade with caution. We’ll be using more profit targets with short term discretionary trading until a decent uptrend resumes.