apparently, this past week was an up-swing (not necessary a counter trend rally till prove otherwise). and it is near the top range of the swing now. current up swing slope is not sustainable. a down swing will come no late then next friday.
so for swing traders, it is time to get out long early next week and enter short mid of the next week.
for position traders, you face the possibility of wipe out most paper gain when next down swing comes, and if current rally is not a counter trend rally, then you might even turn into loss should market fail to establishe the higher low, so a stop is always good idea.
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