Forex Positive
Short

S&P500 facing a bear rally

SP:SPX   S&P 500 Index
The grey box shows SP500             in a sideways congestion from 2040 to 2140, about 100 points. Its been in this consolidation for about 6 months since Feb 2015.

From the speed and velocity of the drop after support/resistance at 2040 is broken, there is another second wave of selling coming.

Watch any rallies in the coming days and weeks. Its probably a bear rally, for the next leg down. Therefore, enter short either at resistance A (1970-1990), or resistance B (2040). Take profit target at 1820.

=====
http://www.ForexPositive.com
Twitter @ForexPositive
=====
100% agree with this, mirrors my own charts.
Also notice the potential for H&S pattern to form with either scenario.
Compare it to the Oct 2014 drop and you have a neck line into the future...break that after a bull trap and ashes ashes we all fall down...
I realistically see us potentially making it into the 1730s if we break the Oct 2014 low support.
Reply
The line in the sand is the Oct 2014 support. It take some effort to break that though. Lets see how the price action goes.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out