maxtorrent

S&P 500 - Upddated

Short
SP:SPX   S&P 500 Index
A Simple chart of the last 5 years, two lines converging to form a pennant / flag (around 10/30/2015). But as we know the breakouts occur before the convergence point. Logic says the market has run upwards between the two line range so a similar contra trend of equal length should ensue. Not a market directional call, just a common sense call but since I expect a down move the call is a Short. Is the tipping point near, looks so! This is a strategic forecast...trend lines have been corrected for the connecting points...hence pennant convergence also stands corrected.