Bulls simply hung around on Monday, waiting for the opportunity to pounce. The S&P 500 (SPX) finished at $3,950, a loss of 0.4%, states Jon Markman, editor of Strategic Advantage.

Bears will argue that all of these minor losses, now 2% during the past four sessions, are part of the realization that the larger bearish trend persists. That is certainly possible, however for now I'm on the other side of that argument. Finishing is everything amongst traders. When your opponent is vulnerable it's important to end all hope of recovery.

Bears are letting bulls hang around, well above critical support at 3,900 for the benchmark S&P. I expect bulls to return ahead of Thanksgiving. The lack of market liquidity will help. There is resistance at 4,065, the 200-day moving average.

The Trade: Current position is ProShares Ultra S&P 500 (SSO), a two-times leveraged ETF. The SSO was added on November 18 at $47.25, and closed Monday at 47.58, up 0.7% from the entry level. Place an order to sell the entire position at $52.20. Place a stop-loss order at $44.10. If this trade works, the potential upside target is +10.5% and the potential downside risk is -6.6%.

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