Michael_Harding

SPX Short Sell Opportunity

Short
SPCFD:SPX   S&P 500 Index
With 2.2 Trillion already priced in and no concrete action from the Senate to provide a relief package, it's starting to feel as though the bill is purposely delayed knowing the vaccine will be ready within weeks with promising results from Pfizer .

The fed has always said, these are emergency tools, when the emergency is over, let's put them away.

The chart above displays price-action on the daily timeframe , however if we look at the weekly, I think it's likely this upcoming week will produce a lower low. A lower low on the weekly timeframe could cause further downside and my concerns are well illustrated in the chart.

Trade Safe - Trade Well.

Regards,
Michael Harding - CEO @ LEFTURN Inc.

RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.

Comments

Yes, seems like the Market Pumpers have turned to have Pfizer and Maderna alternate weeks on announcing a Vaccine breakthrough to try and float the market. Politically I don't think Mitch will give the Democrats a Biden Boost setting him up with a big Bill, albeit if he is installed...
+3 Reply
Michael_Harding RDJones0523
@RDJones0523, Thanks for sharing your thoughts.
Reply
Nice chart 👌
+1 Reply
Michael_Harding habib078641
Reply
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