Bear Trap turned into Bull TrapClear areas of support were marked in previous charts. Failing to adhere to stop-losses would have resulted in significant losses (20%+).
Falling out of the orange RSI line was the first warning sign. Falling right through the "consolidation" zone and into "...bears..." was your second warning sign. While bulls have a last-ditch effort before "...lots of bears..." you should have been well out of this AT LEAST $1,000 points ago.
Everything looks pretty horrible now with a clear M-top (double top) both on price and RSI. Inverted head and shoulder pattern that everybody talked about clearly failed as the neckline held as resistance.
Sorry folks - as bullish as you want to be, the market will be the market. Those that followed me b/c I saw some bullish signals (as did everyone else) but failed to see the clear bear-zones that were marked only have themselves to blame.
Good luck all.
