Description
⋅ This is a followup to my post on SPX last week too.
The price action for the last 2 days hints to me that this could be a bull trap scenario that will kill lots of retail traders.
I expect a bigger correction for this, for bitcoin, for Dow Jones and most indices.
This could breakdown further next few days, does a little move upwards to complete a HNS pattern before dropping further.
The big picture for 2017 is still up, but the next few weeks/months could be tough.
The value zone to buy low for SPX will be around 2200.
Before it hits this zone, I am not interested to long the SPX.
Remain bullish, buy low on fear!