A long term bearish view on S&P 500
Updated
On August 15th, the S&P 500 quotation has reached 2,193.90
The monthly candle of August is a 'spinning top'.
I am bearish (long term view) this indices with a stop loss just above 2,202 and expect a close for September just around 2,133.
My first short term target is around 1,650
The monthly candle of August is a 'spinning top'.
I am bearish (long term view) this indices with a stop loss just above 2,202 and expect a close for September just around 2,133.
My first short term target is around 1,650
Note
Update and trade signal:Note
2185 might be a great level to place a short-selling position on S&P 500Risk is low, with a stop loss just above 2194 (the historical high).
If this will prove as a tentative double top, it can be a long term profitable trading position.
Let's see if the market confirms!
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