Broad Update

As I said earlier, even holding positions that are underwater, or adding positions the last 2 weeks, it's signals like this along with many other indications (no one chart or indicator should ever be the basis of your analysis) that make it easy for me to sleep at night, I don't give a single thought to whether my positions will be okay, I know they will.

Hopefully by the time this is over with, we can look back and get a valuable lesson if it's still needed. There's a time and place to set up your positions, it's not after the fact, it's when you have strong objective evidence before the fact and some of this is recent and some of it is a case that has been built for 2 years.

ES 60 min again, the indications and probabilities were in place 2 weeks ago.

So does NASDAQ 5000 bother me? Just in terms of patience (as I'd like to start collecting on my work  and moving to new trades) , otherwise it's just another number.

This is the kind of market action I have warned again and again about when volatility picks up making this week's volatility post, EXTREMELY timely.

 The SPX daily and you may recall the head fake area we expected to see hit, Above the 2015 range. As of today, nearly the entire head fake move has been erased.

As for the Dow, here was the head fake expected move, above the triangle's apes and again, as of today, this week, it's all erased.

Remember I said bear moves are about 3x as fast as bull moves on average?

And the largest stock Index in the world, the NYSE has ERASED ALL GAINS SINCE QE ENDED ON OCTOBER 31ST, ALLL GAINS SINCE OCTBER 31ST!

It's not emotionally easy to trade with smart money, it goes against price action, it takes some emotional fortitude, but you want to trade with those who move the market don't you?

I have one thing left to do, the Week Ahead.

Other than continued stage 4 (DECLINE) weakness, I need to look at the early part of the week which I'd use only to sell or short in to "if" there's a probability of strength, I don't want to trade against this market on the long side without a VERY good reason.