Technician
Short

UPDATE: PULLING THE SHORT TRIGGER ON THE U.S. STOCKS MARKET

INDEX:SPX   S&P 500 Index
3090 28 57
a year ago
My short trade from mid December is playing out well so far. However, am taking partial profits at 1821 support level .

1821 level is a major support over the medium to long term, so it is a good idea to book some profits, although i remain bearish on the stocks market .

A break below 1821 will probably confirm a move to my full target around 1608.

For more about it you might be interested in is risk here to stay, or Three economic indicators warn of a recession
Best Regards,
http://thefxchannel.com/
Technician
a year ago
Comment: First target hit
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Nice work Tech!
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Excellent
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moneymaking
a year ago
Damn mate, shorted at 2055, amazing entry. Probably doubled your account by now, hehe :)
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rgatling
a year ago
Excellent work...just covered my short today. Will re-enter after it pulls back.
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Thanks mates. Indeed, I was lucky
+1 Reply
moneymaking Technician
a year ago
Awesome, getting lucky sometimes is really helpful in the market world. Congrats mate :)
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moneymaking Technician
a year ago
You think we done with selling, or more selling to come?
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Technician TOP moneymaking
a year ago
I think we might bounce now in the short term. Before going back lower.
+1 Reply
moneymaking Technician
a year ago
Yeah, same outlook for me. Downtrend is quiet strong, small rallies are not enough to this market around :)

Might interest you: http://www.cnbc.com/2016/01/20/these-are-classic-signs-of-a-bear-market.html
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moneymaking Technician
a year ago
*Correction: "to turn this market around" :)
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Technician TOP moneymaking
a year ago
Maybe we will get a stronger upside move now. Before resuming later.
+1 Reply
moneymaking Technician
a year ago
Might be possible, since we got strong rejection from the monthly lows.
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Technician TOP moneymaking
a year ago
True. This is a very major support. So technically, a bounce is very likely.
+1 Reply
moneymaking Technician
a year ago
That was the key level I was paying attention to after we break and closed below the 1900 key support level. Looking forward towards shorting as we go higher :)
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Technician TOP moneymaking
a year ago
Good luck. I am considering a short term long.
+1 Reply
moneymaking Technician
a year ago
Thanks mate, same to you :)
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Hamit PRO Technician
a year ago
Hi Technician,
This is like magic. Market is following your prediction :).
I am new to technical analysis and I have been following your interesting analysis here.
Are you going to update this post when you go short again?
Thanks
Reply
jonasopdahl Technician
a year ago
I agree with this view. Although I am bearish the risk to reward now is to the upside.
+1 Reply
moneymaking jonasopdahl
a year ago
All the best mate :)
+1 Reply
Nicely done! ) Good reasons to short
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Technician TOP morshedul.sazid
a year ago
Thanks there, following your ideas.
+1 Reply
morshedul.sazid Technician
a year ago
Thank you very much! :)
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pantheo PRO
a year ago
Congrats my friend! Fantastic work. Wise move to bank it now, most market internals are exhausted even on medium term. It will be choppy for the next two weeks as usually is after big moves, with a lot of short term up and downs coming. Plus the fact that R/R is not that great from now on. November's doji and 1,618 from the lows was golden opportunity.

all the best

P
+1 Reply
Technician TOP pantheo
a year ago
Thank you. True, lets wait for a better position now
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rv
a year ago
at last m8, you nailed it !. Now, we hope , you will be content, from busting our balls. :)
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Great Post,
When I saw a price volume divergence (OBV and 8EMA), I went short in Dec prior to the FED meeting,
I'm reluctant to close the position now, because I see more down to come.
I have added a stop loss at 200 level to lock in profit in case a bull run happens!
GL to you!
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51yangyang
a year ago
nice work
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TAJ249
a year ago
greats heads up. Appreciated. Although I see a Fibonacci based target of 1697-98. Time will tell!
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