S&P500 - Be vigilant with longs and know when to stop!SPDR S&P 500 ETF TrustBATS:SPYElliottWaveBelgiumS&P500 - Despite price making a new high, I'm not yet convinced we're out of the wood and I'm prepared for any type of price action. But as the saying goes, Be fearful when others are greedy, and greedy when others are fearful. (by Warren Buffett). That said, don't be ignorant to the risk and be ready to abandon ship if the signs say so! What bothers me is that we haven't yet seen any good correction despite the pending civil war in the US and the general gloomy view around the world. We only got a 5% correction and it last 20 to 40days depending on your own view. So, we're at risk of seeing a deeper retracement (~10% to 20%) that can take quite a few weeks if not months to resolve, thus I do not wish to have my capital lock in that case. As I stated on my previous post, my watchlists are showing signs of improvement thus I'm ready to try some longs but I have those 3 scenarios in my mind in case we see a shift in power in favor of bears. TLDR; To make it simple, it's okay to play the long side as long as price, those coming days, does not close below the 10EMA and 20EMA (respectively pink and blue on my charts).