S&P 500 IndexShort
S&P 500 SPX - My Trading Plan For The Weeks To Come
Here is my personal trading plan for my trading account based on the weekly close of the market after analyzing the price action.
I first opened a hedge short (and posted the chart here) weeks ago at around 47000 when the weekly candle close indicated a trend shift. But, then the S&P popped to a new all time high, which invalidated that idea momentarily. We were in limbo, but I let my hedge shorts run thankfully. Here we are again with a clear signal on the weekly that a downtrend is in play. I expect it to bounce from here to the level shown on the chart before continuing down. I could be wrong, and it could just continue dumping from here, but I'd love a small bounce so I can properly exit my longs and get my account net short. No more buying dips, now I short the pops.
For a more in depth explanation of how I determined that trend shift, both the validation, and the coming confirmation, this video is great. It helped me clarify the concept.
youtube.com/watch?v=kOWcHjyAnac&t=338s
I first opened a hedge short (and posted the chart here) weeks ago at around 47000 when the weekly candle close indicated a trend shift. But, then the S&P popped to a new all time high, which invalidated that idea momentarily. We were in limbo, but I let my hedge shorts run thankfully. Here we are again with a clear signal on the weekly that a downtrend is in play. I expect it to bounce from here to the level shown on the chart before continuing down. I could be wrong, and it could just continue dumping from here, but I'd love a small bounce so I can properly exit my longs and get my account net short. No more buying dips, now I short the pops.
For a more in depth explanation of how I determined that trend shift, both the validation, and the coming confirmation, this video is great. It helped me clarify the concept.
youtube.com/watch?v=kOWcHjyAnac&t=338s
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