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Spx500short

S&P at Yearly Resistance; Out of the Monthly BB With screaming bearish divergence I've zoomed into the 3d chart to help get the best picture of the divergence and price action, balancing the pros and cons of using either the 1D or 1W charts. The price action is clearly out of the green monthly bollinger band and a chart lower down in the post will show how much SPX doesn't like that condition. The purple line is the resistance for megaphone that a lot of people have been watching since the price action bottomed late March. The megaphone should tighten either into a diamond or some other pattern but lots of people have been blown out shorting or FOMOing in due to all the gains they see. The MACD is showing bearish divergence on the MACD proper, but also the histogram. Not a great place to be The RSI is also showing a lot of bearish divergence with the arrow shaft being used to show a clear resistance line on the RSI. Target Setting The chart below is a little cleaner to see the big picture so lets take gander. The most common reaction to the price being out of the monthly bollinger band is a return of price action to the weekly baseline. That is only some 6-7% away at this point which would be a very minor drop. I would expect the RSI would be bouncing in the shaded area I added which is between 49-53. I don't think we will see that. A more realistic move would be to either the lower limit of the weely bollinger band or the baseline of the monthy bollinger band, which are roughly at the same place (just like they were in the March dump. A long term chart shows how the price action acts when it has popped out of the monthly bollinger band. This isn't crypto, we don't start a parabolic bull market when the price action finnal forces its way out of the monthly bollinger band. With SPX at this long term resistance and in a position where it cold lose a lot of its value I am getting risk averse.
SP:SPXShort
by This_Guhy
3
US Stock Market - Great Short Selling Opportunity - SPX : S&P500I have absolutely no problem with short selling the market and this is probably one of the best short selling opportunities I've seen in a long time. Please don't forget to FOLLOW, LIKE, and COMMENT ... If you like my analysis:) Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
SP:SPXShort
by Michael_Harding
1
S&P 500 Current P/E Ratio: 37.44 - Average Ratio: 14.83Will price per earnings continue to soar?? 🤔 Please don't forget to FOLLOW, LIKE, and COMMENT ... If you like my analysis:) Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
SP:SPXShort
by Michael_Harding
5
SPX500 - Bigger short coming soon?!Hey tradomaniacs, CAN SPX500 break the All-Time-High? Looking at the structure you can clearly see another fakeout above the ALL-TIME-HIGH from November. The current performance of the stockmarket, especially NASDAQ100 which should benefit the most from Corona as it lists the FANG-Stocks, is very weak compared to what the currency-market is pricing in. Inrceasing corona-figures could cause more pressure as vaccine-news do almost have no impact at all anymore. As always we should look at potential stimulus-news which would probably destroy this idea but.... who is stell left to BUY when every positive scenario is priced in? If SPX500 continues the current breakout of the Trendchannel we finally might see some great PULLBACKS in the FOREX-Market. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
OANDA:SPX500USDShort
by Trading2ez
4