US Stock Market S&P500 Perfectly Poised for Massive Decline
Very high chance US markets (S&P500) will collapse from here (2910-2920) ... expected decline anywhere from 20-50%
Russell 2000 is often a leading indicator for the larger market from my experience. Loot at /RTY and notice a failure to make new highs since the end of February. Now notice the trend break. Looks short!
- First trend line (on smaller time frame) broken. Now rejecting near smaller time frame trend start.
- Rejecting at trend start on larger time frame after losing trend Dec 2018
- Smaller time frame short possible!
- May precipitate bear market with declines up to 80%. 20-50% expected.
Russell 2000 is often a leading indicator for the larger market from my experience. Loot at /RTY and notice a failure to make new highs since the end of February. Now notice the trend break. Looks short!
Comment:
Based on price action: new higher high, it appears a massive decline is unlikely to occur. I'm looking to protect profits on this trade and reverse the position to the long side
Trade closed manually:
Price should return to the highs at this point