The market today made its rally back up to the lower trend line of the triangle and was turned away. This is the first confirmation of lower prices to come. The second confirmation will come with a breaking and a close below the low at 1442.
I have scaled back the equity positions considerably in both the short term equity trading account and the 20% in 7 days account. Both of the returns on these most recent positions have met with very mixed results.
Upon the closing below the most recent lows I will begin to scale in some put options to protect the long term equity portfolio.
Remain short term cautious.