LucyF2492

Indexes have cracked

Short
SP:SPX   S&P 500 Index
As said, patience in key. If you missed shorting the top months ago and have been waiting for this rally to end, we have the crack! The 200 MA on daily was the obvious brick wall. On long term shorts, I always take profit at the Weekly 200 MA, as it's very powerful and aligns with Fib ratios frequently. For this rally, the weekly 0.95 Fib is last(medium term) target. The first 3 targets I have with X's by them. Stop loss would be 2740 to 2750. I do believe this is a generational short and it will go lower than the December correction, but only time will confirm that.
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