In Monday's blog on the broad stock market I wrote:
"What we don't want to see this week is the NASDAQ making a new low AND both the DOW and S&P 500 breaking their May 13 lows. That would be a very bearish sign and could mean a serious washout into June to significantly lower levels in all three indices...What we can do is enter a long position now in either the DOW and/or S&P 500 (if you are trading index funds) with a stop loss based on the DOW and S&P 500 both breaking their May 13 lows (25,222 and 2,801) along with a new weekly low in the NASDAQ.."
All of this is happening this morning so we should now be out of this trade. If not already out, sell all long positions in the broad stock market.