Like I said before, the retail sales data will make ore break this pattern. Retail sales data came out more positive than the consensus expected. Now, the S&P 500 and other markets within the USA are rallying across the board. This is a brimming bull market and not an environment to be short this corner of the world until there is more risk aversion.
Normally, I predict retail sales. This time, I wasn't as sure like that it would come out negative; hence, why I made the comment concerning retail sales.
Fundamentals are the catalyst that drives the market decisions. We need data to be negative, until then, I consider this pattern broken. Why wait to get stopped out when all the data is positive and I can look into the future?
Retail sales data came out positive:
Technically, we have smaller breakouts to the upside for JPM because it is following the broad indices. So, orders cancelled. Keeping a skeptical eye out on it and on my gold miner limit orders that haven't been filled yet.