https://insight.factset.com/sp-500-reporting-a-lower-net-profit-margin-for-6th-straight-quarter It is bull trap imo, forward p/e drops faster than forward eps, now assuming the fed is pausing, which maybe not.
Chart tells me to stay long for now. I hope the market gives me a signal when the trade is no longer valid.
Yet, as overall this is still a multi-decade bull market, (see B1's post about S&P being an uptrend only market), so the risks are to the UPSIDE, one of an explosive rally as fund managers who have badly gotten the market wrong panic buy propelling the Stock market driven by FOMO rather than reasoned analysis to far higher levels than the likes of TA can conjure through lines on a chart.
Still long as well. @Buy1Sell2 -- I think you have the process figured out. Maybe if Jesse Livermore played golf he wouldn't have had the extreme highs and lows in his trading and personal life.
I was in and out 3X, When it goes my way I set the stop to BE. Clearly my stategy is not working. I have a low tolerance for losses. and /cl is a different bird, you can lose your ass in a hurry. limping off -$70