The "S&P 500" finally made the higher high in the overbought region to potentially trap the last Summer bulls at the all-time-highs. Risk/reward is looking attractive again. Currently the "S&P 500" is at 2179.9 points after the Monday close of August 8, 2016.
Short entry: 2180
1. Target: 2125
2. Target: 2085
Last all-time high: 2187.1
Stop loss: 2188
Risk: 8 points to 2188 from 2180
Reward. 55 points to 2125, 95 points to 2085
Screenshot of the current weekly candle, after one trading day of the week has closed:
Short entry: 2180
1. Target: 2125
2. Target: 2085
Last all-time high: 2187.1
Stop loss: 2188
Risk: 8 points to 2188 from 2180
Reward. 55 points to 2125, 95 points to 2085
Screenshot of the current weekly candle, after one trading day of the week has closed:
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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.