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US500SHORT

SPX500 with Expected correction.US500 - Intraday We look to Sell We are trading at overbought extremes. Momentum is stalling with the posting of new highs and indicates bearish divergence. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. We have a 78.6% Fibonacci pullback level of 3507 from 3588 to 3210. We have a 61.8% Fibonacci pullback level of 3444 from 3588 to 3210. Preferred trade is to sell into rallies. Our profit targets will be 3444 and 3420 Resistance: 3508 / 3526 / 3536 Support: 3490 / 3485 / 3444
TVC:SPXShort
by Signal_Centre1
1
US500 series of rising and sudden drop happeningUS500 As the economic activity hasn't picked up as expected in second quarter of this year. In some part of the US the economic slow down is further accelerating and many of the skilled and non skilled workers are unable to return to the duty. This has reflected in company growth and overall economic growth is still intact as earlier forecasted by OECD. After reaching the September high around 3600.00 (which is a key psychological level) the trend has reversed towards south as the pause in vaccine development and the surging of daily virus cases We can see a series of rising and sudden drop in the prices with the bear flag formations. And trading in a downward channel. I am expecting that the price will continue to run lower towards 3000.00 level. From this level we can expect shift in the momentum towards bullish The price is currently trading below the 50% Fibonacci and the next downside target would be 61.8% Fibonacci level comes around 3188.00 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
UShort
by forexorbit
4
S&P500: Short the all-time high 3390 to at least 2930August 15: meeting with China. Will the trade war worsen? November 3: US elections. Before November 3, Trump expects to have the vaccine. What if the vaccine does not work? What if we are in a brand-new dotcom crisis? Investors will collect profits at 3390 from the S&P 500. It's the most safe movement they could do to mitigate their appetite of risk. So at 2930 there is the so-beloved-by-investors 0.382 level. The bat pattern I draw is not accomplishing two parameters but it may enforce its prophecy... Have a good trading in 2020. Leave a comment to hear from your thoughts.
UShort
by alexinve