S&P 500 IndexShort
SP500 Double top, like in Sept 2018 high
Updated
At the moment we can see a similar shape double top as the one i showed back in Sept. Eventually it was the ATH so it was a bit lucky on that part. So doesn't mean the same will happen again now, but who knows.
So doesn't mean we crash hard, but we can always keep a part. Stop above the high, would do half now and half at break neckline. Above neckline very it's still dangerous, markets have been very tough past months for the bears. Below 2875ish would be much safer.
Only danger i see now, is seeing it turn into a triangle. Nasdaq' looks much stronger than the rest, but shows just that retail money is getting into Tech stocks. So even though the shape looks good now, it can simply change if the high breaks. If it breaks, accept it and wait for a potential false breakout (or not). Like Bitcoin' did yesterday
Previous analysis:
So doesn't mean we crash hard, but we can always keep a part. Stop above the high, would do half now and half at break neckline. Above neckline very it's still dangerous, markets have been very tough past months for the bears. Below 2875ish would be much safer.
Only danger i see now, is seeing it turn into a triangle. Nasdaq' looks much stronger than the rest, but shows just that retail money is getting into Tech stocks. So even though the shape looks good now, it can simply change if the high breaks. If it breaks, accept it and wait for a potential false breakout (or not). Like Bitcoin' did yesterday
Previous analysis:
Note
This flag might be good to look at for the entryNote
The bear flag on the left looked good but failed. The support of the triangle never broke and it simply pushed back up again. As mentioned above, a could make a move like Bitcoin did 2 days ago. On the right we have another example of a stop hunt move. A rule for this is, seeing it drop back down almost just as fast again, where the blue circle is the spot where chances start to turn into favor of the bearsNote
This scenario has become very unlikely now, bounced up too much already. So for me, putting indices back in the fridge and wont look at them until i see something worth the risk. These markets are still crazy
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