Hi @radx I think you are right to be bearish and cautious given...

Hi @radx I think you are right to be bearish and cautious given the technicals, regardless of time frame. Time frames are everything when answering such a question but if you're asking if traders should respect anything but those ominous technicals during this continuous sell down, my opinion would be a negative. That is the cliché, I know. I mean...that is what we tell others who don't know our time frames (or our flexibility thereto)... or where our stops are located or how much we risk or what we base our trades upon.

I think you are right about the news thing but aside from intraday and very short term trades, news would have to last long enough to repair those nasty technicals. Added to the unreliable nature of intervening catalysts that buck either the clear trend or the bearish global thesis is the notion that narcissists tend to want to take everything down with them once they are found out. If you combine narcissism with cheeseburger- induced mental rigidity and a supportive cult of flying monkeys...well then you have a real bugger of a time. Many traders will be closing their positions at day's end throughout next week because we have such bearish technicals combined with the kind of erratic, inconsistent and despicably choreographed news flow that helped precipitate this downturn in the first place.

I wanted to respond to you before I zone out or trip while looking at charts on my phone and get trampled by a crowd of last minute shoppers. As for the particulars, I am still looking at next week's possibilities based on liquidity events (QT), options positioning and the futures profile.