The market is strong, as evidenced by new all-time highs in all four major indices this past week. Since price action is the most important indicator, the overall trend remains bullish as long as SP-500 holds above support.
There is a short-term support at 3725. Below that, there are two important support areas, the first is at 3630-3650, and the second is at 3550.
So, what could possibly go wrong? Well, there are plenty of sell signals that could be setting up.
Don’t do what you know on a gut level to be the wrong thing to do. Don’t stay when you know you should go or go when you know you should stay. Don’t fight when you should hold steady or hold steady when you should fight. Don’t focus on the short-term fun instead of the long-term fall out. Don’t surrender all your joy for an idea you used to have about yourself that isn’t true anymore. Don’t seek joy at all costs.
I know it’s hard to know what to do when you have a conflicting set of emotions and desires, but it’s not as hard as we pretend it is. Saying it’s hard is ultimately a justification to do whatever seems like the easiest thing to do—have the affair, stay at that horrible job, end a friendship over a slight, keep loving someone who treats you terribly. I don’t think there’s a single dumbass thing I’ve done in my adult life that I didn’t know was a dumbass thing to do while I was doing it. Even when I justified it to myself—as I did every damn time—the truest part of me knew I was doing the wrong thing. Always.
As the years pass, I’m learning how to better trust my gut and not do the wrong thing, but every so often I get a harsh reminder that I’ve still got work to do.
