Click on the Chart to EnlargeI'm sure there are many other people looking at the trend line of the August lows as an important support line. If that line gets broken, my particular view would be bearish. Multiple overlapping highs and lows like we are seeing off the July lows is not typical of a strong market that is reversing trend.
Looking forward, I would suggest exiting the SSO trade if it closes below last weeks lows. However, I will still use the short-term model to track the exit price.
Pete
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