S+P 500 has support at a Double Bottom Closing Level at 2641
2641.89 on 11/20/18, along with the prior bottom at 2641.25 on 10/29/18
This is potentially short term bullish.
Double Bottom formations
in technical analysis are signs of a potential reversal
of SHORT TERM TREND,
and although respected, should be ONLY treated as
SHORT TERM SIGNALS,
against INTERMEDIATE TREND which is STRIKINGLY BEARISH.
Any rallies back to S+P 2670-2680 should be SOLD
giving you an opportunity to establish NEW SHORT POSITION.
View this opportunity as a potential early Christmas gift.
Any rallies exceeding 2680,
should be viewed with a huge grain of salt,
as MAJOR RESISTANCE is at S+P 2700 !
Seasonal bias around Thanksgiving in the US
is bullish, which may further empower the stricken bulls,
who will be looking to unload shares, at any higher level they can get and get out..
as many are obviously trapped,
by the stock market's relentless plunge.
THE_UNWIND
11/21/18 530 am
NEW YORK
2641.89 on 11/20/18, along with the prior bottom at 2641.25 on 10/29/18
This is potentially short term bullish.
Double Bottom formations
in technical analysis are signs of a potential reversal
of SHORT TERM TREND,
and although respected, should be ONLY treated as
SHORT TERM SIGNALS,
against INTERMEDIATE TREND which is STRIKINGLY BEARISH.
Any rallies back to S+P 2670-2680 should be SOLD
giving you an opportunity to establish NEW SHORT POSITION.
View this opportunity as a potential early Christmas gift.
Any rallies exceeding 2680,
should be viewed with a huge grain of salt,
as MAJOR RESISTANCE is at S+P 2700 !
Seasonal bias around Thanksgiving in the US
is bullish, which may further empower the stricken bulls,
who will be looking to unload shares, at any higher level they can get and get out..
as many are obviously trapped,
by the stock market's relentless plunge.
THE_UNWIND
11/21/18 530 am
NEW YORK