After a few weeks of indecision from the market it has now decided to show its hand. Two days ago something significant happened. The SP-500 Broke its long term support area thereby confirming the Head & Shoulders Pattern which is prominent when looking at your daily chart. The trades we took at the support area which were our "dipping our toe in the water trades" managed to give open profit but did not fulfil our criteria on our risk management and eventually stopping us out and the others scratched break even. Because we also saw the trend weakening going into this trade with bigger pullbacks than what we have seen in the last year we had also adjusted our entry percentage (lighter on our position) which we had previously mentioned in earlier market updates. Where do we go from here? We have now seen the formation of a bearish chart pattern but this is not to say that we will be going short. However, we will be giving you detailed updates on what we will be focusing on and entry levels. So, until next time we will be sitting it out and "sitting on hands" ready with our cash.