only that h/s are better at the top/bottom of a trend.

gold is dropping, so all the gold miners are too. 

FCS actually looking like a good long, with the volume and how it's bounced back from undercutting the 12 support level.  I lost some trying to short it just over 12. Anyway, don't see how it's a good short anymore.

It is counterintuitive, but I suppose it all depends on the system's signals.  If they were once again looking oversold on Friday, or perhaps no longer overbought as they were when the system went short, such that there is no longer a significant statistical trading edge in the down direction, then I guess that's the exit signal.

Thanks for the input - this is a very hard place for me to go long!

Yeah, and the 60 min GDX:GLD ratio line is close to breaking.  Agh!

Okay, now GDX is looking like it may have peaked and could roll to the down side. Not at all looking like a good place to enter and go long w/ the GDX system! Steve, any thoughts?

One thing to note about the evening star or shooting star patterns is they are most predictive at the top (or bottom for morning star) of a trend.  This week and last week's action seems like more of a corrective than a trending pattern.

and...  stopped out.

dropping now.

broke back below.

backtest underway.

Thanks for the reply.  TBT has been tough to trade.

Broke this morning but has pulled back hard.  I have a stop below the right shoulder lows.  Is that too tight?

Steve, your SPX charts and commentary have been excellent!  Thanks.

FRT

three bars on a 5 minute chart?

Very interesting!

Steve, just thought I'd mention that the RSI 14 on the monthly SPX held above 44, closing out August at 51.

Speaking of a break of 1219....

it's an inverse h&s, theoretically measures up to about 88 or 89.