Fully short SP and ES from 840

This is an intermediate term position with a target below SPX 600.

As you know I have mentioned importance of 850 level when I covered SP and ES shorts at 780 yesterday, SPX rallied 60+ points from the point I covered. Considering too many sectors and index components completed their monthly and quarterly targets today, I believe this is a good place to begin shorting.

However, since the market will likely make short term moves around 840 before downside acceleration, I will micromanage this position accordingly as usual and for the benefit for all xTrenders, I will try to let you know when I make any changes.

I am doing this because, unfortunately , there are too many short term and day traders expecting my intermediate term index positions to work immediately although sometimes they do.

I will post a few important charts later today or tomorrow morning before the opening.

Good luck everybody.