Today not the day for buying..

As I stated earlier the market would hit resistance. The market gaped at the open and since then it has been a gradual decline as the day has worn on. Buying any stocks today would just likely pullback and then you would be in the red. This is why I did not say that we should buy today.

When indices are hitting a significant resistance level that is NOT the time to buy. Any long positions while the index is at resistance is prone to fail