Market short term is down, but immediate and long term are still in strong uptrend
SPY is still in good shape (all 3%, 5%,8% zigzag are up) as long as it stays about 122 level
As shown below in my zigzag and critical levels chart, all 3%,5%,and 8% zigzag are in uptrend.
I don't have any CCME, but I feel bad for CCME long holders. Chart does not lie, it tells something is wrong with CCME a few days ago. I was planning to buy if it can hold above 20 the other day, stop would be 19.48. It closed below 20, so I did not buy. Lucky me. Even if I had bought it, and sticked with my predetermined stop, I would be fine too.