trig, I can see your theory on formations, however one thing I...

trig, I can see your theory on formations, however one thing I was always taught when learning the market was to ultimately follow the trend line. I only briefly viewed your chart, and while associating the drop in sp since OBJ initially became bullish, it would appear that is has substantial room before it meets support (a healthy sign) if it breaks the long term trend line, meaning it closes below the support line over a 3 day period (the actual closing price, not the daily low) then it may be a strong warning signal to get out. Correct me if I am wrong in regards to the long term support line, as I said I only had a quick glance - my faith in charts has diminished as of late.

Regardless, as you mentioned a good announcement will push the sp up, making any chart status invalid. I am happy to hold, short term parcels and long term parcels. The recent sell off hasn't spooked me yet, after all isn't that why we are in the game.

Good luck trading.

"The right decision is the one you make, we can not change the past, only learn from it"

FT