Hold the Line (Until You Can't)

Hold the Line (Until You Can't)

By Prof. Jeffrey Bierman, CMT

Toto released Hold the Line in 1978.

Jeff Porcaro on drums. Steve Lukather on guitar. The song that put them on the map before Africa ever existed.

I picked that title Thursday morning for a reason. We are holding a line right now.

The market sits at 6,900 on the S&P. One percent from all-time highs. And traders are already panicking.

I watched it happen all week. People are asking why this is dropping…

…why we cannot break through…

…why the market feels so heavy when we are this close to new records.

Here is what I told my members on Thursday - you are within 1% of an all-time high, and you are already crapping the bed.

Get the Fed out. You could fall 30% easy from here and it could happen tomorrow.

The weekly S&P 500 RSI just hit a 59 handle. Next week it will be a 57. Then a 56.

This is a slow bleed. A drip in your faucet that you ignore until one day the bathtub comes through the ceiling.

The Genesis Cog Scanner tracks these setups before the breakdown happens.

It identifies when the weekly cycles are rolling over while the daily charts still look fine.

That is the edge.

Because if you are bearish short term like I am, you need to understand one thing: How to hold the line without getting destroyed in the process.

This weekend, I'll show you how to hold bearish positions with discipline and build into weakness the right way.

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