[marry123]

Curious as to what you see here, based on Stan's method, that the S+P may be a good short here.  Can you perhaps put up a chart of the S+P pointing out what you see that may make it a short here?

Thank you.

I mainly trade long so don't take my word as gospel on this, but I'm basing this trade on it being a potential pullback entry within the early phase of Stage 4.

The previous support that was knifed through during the initial decline, has now turned into a resistance zone, and we are now within that area, and also as you noted we are around the 50% retracement level, around which if the market is trending you'll often see a reversal and the trend would reassert itself.

I normally prefer to make pullback entries when I'm long by dropping down to the 2 hour chart and waiting for the move into Stage 2 on that intraday timeframe. But as this is a short pullback entry and I'm doing it through my pension account. I can only trade during London hours. So the US market will be open for another 4 and half hours after I can make trades on it. So i'm using the smaller position size into the strength today instead of waiting for a turn down.

I hope that all makes sense.

Thanks, it makes sense. If this is just a bear market rally perhaps it makes it to around 61.8 retracement around 2920s, if the 50% if not the top.