The S&P 500 Index has fallen by 100 points since hitting our short entry zone and is now attempting to recover.
Our next entry zone is a long entry zone later in the month and a substantial distance away from where we are now – we need a fall of another 250 points before considering a low risk long.
Things may (and often do) change in the meantime so it’s important to keep a close eye on open positions.
If you are short there is no guarantee the SPX Index will continue to fall but there is no excuse in making a loss with stops being place on our unconfirmed trend line which is current just under 4440.
From our side we exited 50% of our short at 4350 and depending on the action at the unconfirmed trend line (if it gets back up there) we may build the position back up.
Remember disciple and patience is key.
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