DavidBelleFX
Short

SP500 Short

SP:SPX   The S&P 500 Index
Looking at the COT data, smart money has turned net short during mid - late May.

For me this indicates a bearish market, We have seen a sharp move up from 2040 to the current price, but funds have shorted into this price move also (these are smart money but more sensitive to more short term price changes.

In addition, we are reaching a relative market top if you consider the long term trend line .

I'd have a stop above 2110 as an invalidation point with an initial target of 1980, whilst managing the trade if we were to look lower, which I will be.
I love to read your fundamental analysis. From an Elliott Wave point of view, this is what I see. Good luck!

snapshot
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out