I didn't post yesterday as the market did everything right and nothing wrong. The action still supports my view that the probabilities favor an intermediate bottom was put in July 15th at 1200 intra day on the S&P. I think we'll know very soon. The action late today, down 205 points on the  Dow and 16.88 on the S&P, will surely shake some more bulls out. That's what the market has to do if it goes higher from here. If it does go higher the S&P targets I'm watching are 1292 first, 1320 second then 1349 lastly. But remember, no probability is 100% except death and taxes, so the market could still fail here. If it does, the levels to watch are 1256 first, then a moving trend line currently at 1244 and moving up by the hour, and lastly 1234-35. If these levels are breached it would indicate a hard retest of 1200 and something possibly more sinister. It is possible that's how this will play out. This brings me to the point of tonight. Never "marry" a position. Never get so convinced and dug in that you're right and the markets are wrong that you refuse to sell when it becomes clear you should. This is one of the biggest, if not the biggest mistake people make in trading. In reality you shouldn't be bullish or bearish....you should want to be right! You should be like a judge.  A judge isn't supposed to want someone to be innocent or guilty. He listens to the facts and lets that take him where it does. He wants to get it right. Investors should do the same by listening to the markets. But most, by far, don't. Can you do it? Whether you can or whether you can't, today, it's what you need to know.