Leaders Give Out

Yesterday we documented how we're shifting back to our defensive strategy. Tight trading correlations to weak equities dictate this approach.

At the same time, we've been stopped out of most altcoin long positions.

There's little to discuss in the way of tactical trading opportunities.

Even the strongest names can't get it done when we look at the alts. We're seeing many failed breakouts, and there's little to like in shorter time frames right now.

Here are a few examples.