S&P 500 IndexShort
The beginning of the BIG short !
Another wave another short, a BIG short !
After the bearish confirmation with the break of the $3636 level on Sept. 27, the first bounce wave ended on Oct. 5, and the bearish acceleration on Oct. 13 with the lows supporting Fibo 50%, yet another wave of technical bounce is about to end. The opening short area starts at $3750 with a more important area between $3800 and $3815 (highlighted in deeper red).
More acceleration could occur soon due to a confluence of factors : inflation data, FED interest rates, quarterly and the 50/100 weekly moving averages crossing downward (Death Cross).
I will open SHORT positions in the entire area from $3750 up to $3815, with larger positions between $3800 and $3815
The long-term trend remains unchanged as from the first analysis on August 26, with a long-term target in the $2200 area.
After the bearish confirmation with the break of the $3636 level on Sept. 27, the first bounce wave ended on Oct. 5, and the bearish acceleration on Oct. 13 with the lows supporting Fibo 50%, yet another wave of technical bounce is about to end. The opening short area starts at $3750 with a more important area between $3800 and $3815 (highlighted in deeper red).
More acceleration could occur soon due to a confluence of factors : inflation data, FED interest rates, quarterly and the 50/100 weekly moving averages crossing downward (Death Cross).
I will open SHORT positions in the entire area from $3750 up to $3815, with larger positions between $3800 and $3815
The long-term trend remains unchanged as from the first analysis on August 26, with a long-term target in the $2200 area.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.