Yesterday we investors saw something we haven’t experienced in quite some time.  We saw a lot of ‘red’ flash across our screens.  To be clear, the SPY had a pull back to the tune of 1.2%.
 
And while seeing your positions (if you’re long) lose value isn’t a good feeling at all; pullbacks and consolidations are all healthy behaviors for the overall stock market.  Not to throw in a cliché here but like they say; “stocks don’t go up in a straight line” and neither does the broader market.  
 
Pullbacks, in essence, are a part of the course.  

​Pullbacks also represent opportunities to finally get into that trade that got away from you. 
 
How Will the Short Me Tina Community Position themselves? 

After hitting a high of 240.32, the S&P 500 has pulled back some.  What’s next for this market?  I can with confidence say; I am not sure because like I blogged about several months ago, the markets are uncertain.  Get accustomed to that!

However, if I am to use my charts as a guide, I would say we hit our first level of support today at the 235 levels. 

For me to remain confident in this bull market; I would like to see another pullback to the 232-233 area. 

If it dips to 228 and consolidates in this area for several weeks/months; I would begin calling the market a raging bull.  And will begin to go all-in!

Those are my levels.