21 Aug 2015 - Heckelled and Jeckelled

I have been trolled too many times this week saying how bearish I was, and how I was wrong about my sentiments. This was from one person and I actually had to close my email account and glad I made up the email account for such guests.  I make it a point not to fall in love with a stock, so when I say I have a target of so and so, it doesn't not mean I am out to get you.  Therefore, trade how you like to trade and don't ask me to bet you on it.  This is just childish behavior.

Since the ST turned down a few days ago, we had a pretty consistent drop and it held through into the after hours market.  This has not been experienced in a very long time.  How long?  Well, the last time we had spells like these were in 2012.  Quite a few years ago, and many will have to start conditioning themselves back to these bearish moves.  It won't be easy, that's why I have said before over and over again that the mentality needs to shape into defensive or short even while markets move sideways to up.  This ride is about to make so surprised turns.  Make your decisions for all scenarios before the markets open for the next day and execute on them.  Hesitations will be problem sooner than later.

Does this look like a Bullish chart?  I don't claim a crash is coming, but what I do know is we are at risk of one. or a very nasty slide. With my market sentiment in Bear Mode, I would be an idiot to think I am so much smarter than an indicator that collects data for me and tells me what it thinks and trade against it.  As I write this, the SPX just dropped 5 more pts. into the close.  New Norm?  Who knows..  One thing is for sure, the "buy the dippers" are thinning out.

MT: DOWN
ST: DOWN
PA: DOWN

Note:  Notice that most if not all the trend line supports you chartists are drawing have been cut through like its not even there.  A rally will come sooner or later, but it would just serve to exit the train before it starts to run too fast to even jump out of.