The candles from the previous two trading sessions gave bears hope.

I took the bait with one short position, and I paid for it today. As always I’m using a stop-loss that has yet to be triggered just yet, but now SPX sits just below all-time highs, in fact, less than 1%, and if recent history holds, this is where price will start to falter some. 

So far this has been the case in May, July and September with July actually making a marginal new high before giving way to the August malaise. Here we are in October, which is historically a train wreck for cataclysmic market events and just difficult trading conditions in general. But can it establish new all-time highs, or are we going to see another down draft? So far this has been the case in May, July and September with July actually making a marginal new high before giving way to the August malaise. 

Take a look at the bearish watch-list below: