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Perma bulls and bears will always find a reason to break their rules. That is what a mental stop is. It’s all psychological and We all suffer from it.

IMO good place to start building a short position or to start scaling out of long. Similar long term pattern ending as we saw in Oct 2008.

As a long term position trader (investor) you need to have the stomach for large P&L swings. It works for some, not for others. To each his own. In the meantime we are down almost 1% after hours. I see the continued uptrend on monthly and weekly charts but weekly looking vulnerable after this...

That seems to be your interpretation. Maybe you have backtested this to prove your theory but sorry, a bearish candle is a bearish candle by the books, regardless of time frame or current trend. Best of luck on your current position.

Out of curiosity how did the monthly bar end well if it was a bearish candle?

I remember that day. Guy in my office lost $100k out of $105k in his account. When he realized the loss he was at a loss for words. Never came back to the office after that. Sad day for many but happy for others. I was searching for news...thought it was another terrorist attack. Couldn’t...

Interesting. My cash monthly chart (TD Ameritrade) shows 2718.70 open / 2718.37 close which makes it a bearish candle.

Both DJX and SPX closed as pin bars on monthly. Should be interesting rest of the summer.

Another squeeze...never ending bull bias in the mkt. b1s2 loving life!

Watch for potential HNS formation on 60 min and a test of the lower channel line on daily.

Intraday or long term?

Top of bear flag channel on daily. If this is longer term hold and this level is rejected you will make out handsomely. Good luck! I am still short half my position from 2717

Covered 2 at 2711.

Add 2726...avg 2717.5

Add 2718...avg 2713

Short 2707.75

10 yield chart not good for those bearish on bonds. I still believe feds want it close to 3% so they have room to cut when mkt gets dicey. Yellen really screwed the pooch with her dovish ways and now Powell needs to manage mess she created.

I could be completely wrong but looks to me this was a fake break on wedge. I guess volume was a tell.

2668 cash 50% retrace on daily

The bear flag on daily is looking in play. Time to get short again.