Last Day Of The Month Failure

Last day of the month puke forms excess highs on the monthly chart.  And lest anyone forget, we post a screen shot at where this excess candle has printed.  References don't get anymore significant as this.

When I called the "emotional top" recently http://scott-trader.blogspot.com/2013/05/calling-top-finally.html the call came from a place of severe emotional unrest and the call felt absolutely absurd at the time.  But for now anyway, it just might have been spot on, and largely a function of knowing this monthly zone, as well as emotional awareness.

The daily chart is not so ominous, but a clear breakdown of the multi-day range can be considered bearish.  Just a minor breach of fastline moving averages so far...

And it is the last day of the month, so hugely bullish odds come into play come Monday for the 1st of the month jumper.  This setup has just one loser in the last 10 years.

Oh, and we recently pointed out that TICK recently printed extreme readings.  http://scott-trader.blogspot.com/2013/05/another-bounce.html  And I want to point this out again because, in hindsight, I feel this was a major signal that a failure was on the way.  I didn't give this signal enough credence.

Now onto some charts:

Intraday Entries: