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D_Market_Outlook
Jan 20, 2019 10:33 AM

SPX LAST LINE OF DEFENSE FOR BEARS Short

S&P 500SP

Description

1. Last Sell Zone that started the sell off.
2. Shall wait to see how price reacts in that zone.
3. Short at 2703 for a good RR.
4. RSI is very overbought
5. Harmonic Bat pattern as well.
6. Volume is still low in this rally. A lot of sideline money on the fence, thus probability for another downward move is still possible.
*If price breaks this level, mindset will switch to bullish.

Comment



Rising Wedge as well in the 1 hourly chart. We could see that heavy resistance by the rising wedge as well.
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