ResonanceTrading
Short

A quick S&P 500 short trade

SP:SPX   S&P 500 Index
This quick short trade is in line with our bearish view for the S&P500             .

It seems that the S&P500             has finished an abc correction to the upside on the 15-minute chart, where wave c is an Ending Diagonal .

If this count is correct then the S&P 500             will start declining in Primary wave (C) to finish the correction started in May 2015; that will lead to new lows during next year.

If you are looking for a safer trade with higher risk/reward ratio then you can trade sex short with your stop loss above the highest price of wave (B) (almost 2115 or 211.7 on spy             ) and looking to take profits around 1800.

As we always say wave C are "most probably" the fastest, easiest and least risky waves to ride.

Happy trading :)

Trade closed manually: We closed our short term trades and we are still holding our long-term shorts
On your 15-min chart, the wave v of the ending diagonal shows the classic overthrow too.
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