Quick Technical Follow-up

SPX futures ES_F closed above 1153.25 thus negating the bear flag I mentioned earlier. Market wants to go up. It is ok to be wrong as long as you did not push the trigger too early. Waiting for that entry on the signal you have set up is the key. Signal is the break below the flag. Many would be aggressive and enter inside the flag. Today is the example why you always wait and stay patient. Now the picture changed and bears are on the defensive a bit. But really not by much, since the overall trend has reversed towards the downside. What happened today is by no means a game changer, but just a negation of a pattern. There is an uptrend channel now from y/day lows. Let this be the signal. If broken down decisively then you know that market is in trouble.