[isatrader]

ah, I see now. So JIL did go into a stage 1 but came out of it quickly. I was thinking you still had it as a stage 3 but potential to move back into a stage 2 continuation.

It can seem, for me anyway, that these types of charts can be quite tricky to call as they have effectively done the bulk of their stage 4 declines as the 30WMA was still rising.

Thanks for clearing that up.

The thing I've noticed over the last few years is that during a bull market, the Stage 4 breakdowns can be very brief, and the bulk of the move only lasts a month or two before they begin consolidate higher and recover back into Stage 1. So unless there's a prolonged bear market i.e. 2008, then shorting is for the most part a short term traders game the majority of the time.