Sell Signal triggered

Market broke its up trend across the board. If you are a swing trader, a sell signal is triggered today. Hopefully you got in early in the morning and have made some profits by the close. Stop loss should be set to the recent high in late July, early August. small cap IWM is still the weakest of all. There is no support in sight until 60, another 3% lower from the close.

One thing worth mentioning is that the current market condition is very difficult to trade because of big gap ups or gap downs like today. Therefore, you should be more cautious than normal when trading. If you want to be conservative, you can lower the stop loss price of your shorts to be 08/10's low. If the market rallies above that level, at least cut half of your short positions.