Why I got out

Take a look at the chart in the last post.

The e-minis rallied just about 18 points from today's low, thus matching the length of the previous rally. This put the market right at the top of the second purple rectangle, late in the day, after a steady rally that did not attract much bullish enthusiasm or volume. Then the e-minis started to come off their highs and this made it likely that the sellers were taking advantage of this second, 18 point rally to unload some positions. So I decided to accept a small profit and await developments.

It is starting to look like the rally which started today is going to end at a lower top - perhaps the top has already been seen. I hope to be able to see the situation more clearly near tomorrow's open. In any case I plan to follow whatever side (bulls or bears) shows the greater strength and activity soon after tomorrow's open.