I was given some information today that has concluded me to short SPX for the remainder of the year.
Turmoil and scandal in the US has caused a turn in SPX bearish. The US is going bankrupt.
I cannot say anymore than that.
consolidation may occur at 3850 levels then further dip to yellow supply
POTENTIAL 700 Point swing!
3:1 RR from MA200 (red) to the yellow supply box 1.
8:1 RR from MA200 (red) to the red supply box 2.
3257 levels indicate the impulse bounce (TA backed by A.K)
Turmoil and scandal in the US has caused a turn in SPX bearish. The US is going bankrupt.
I cannot say anymore than that.
consolidation may occur at 3850 levels then further dip to yellow supply
POTENTIAL 700 Point swing!
3:1 RR from MA200 (red) to the yellow supply box 1.
8:1 RR from MA200 (red) to the red supply box 2.
3257 levels indicate the impulse bounce (TA backed by A.K)
Comment:
dipped into the 3800 level but found support. Now At the 4000 resistance sector. Looking to suck in Q1 buyers then continue the bearish cycle. if 4100 is taken out this will invalidate the bearish cycle.