That is my major signal to get out. That candlestick is highly bearish outside the bollinger band lines and will no doubt return to its mid-band. I would treat it like earlier this year. I may nibble around the mid-band and add a lot more after a confirmed bounce off the lower band.
Jan 4 - We have transitioned into a bear market. Completely different rules apply. May 23 - IMO, any price at/above this close makes a great Nasdaq/SP500 short.