Weekly SPX Chart...
You can see the daily chart shows a nice clean break of support, and after a quick fall, it's tempting to take profits. But, when you zoom out the chart a bit, you see how much more potential room there is to fall.
Holding your position gives you more wiggle room. Taking profits means you have less wiggle room, and may miss further declines while you wait for the "perfect" entry... As you can see from today's market action, the market has switched to the bear, now it's time to "Sell the rally"...
tb
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