Casey_Yeo
Short

S&P 500

INDEX:SPX   S&P 500 Index
Market seems to have stalled around 2000-2010 level. Bearish pin bar formed at this key level. This may be due to profit taking on Friday before the weekend. Or this may be the beginning of a reversal/correction. RSI is showing bearish divergence.

Word of caution: This is counter-trend, and it is counter to a super uptrend. The potential risk-reward ratio may make this a worthwhile bet.

Related Ideas

Casey_Yeo
S&P 500
Casey_Yeo about SPX 2 years ago
KevinT
2 years ago
I was lcuky to get a print screen of Marc Faber's system

http://a.disquscdn.com/uploads/mediaembed/images/1309/8576/original.jpg
Reply
KevinT
2 years ago
Ok. Now seriouse. Have a look at the previouse pinbars that are the same as this one. Sitting on the same level as previouse top. The rate of succes is not good.

8 May 2014
30 June

Be cautious with this one. May be just whip sawing between 1980 and 2010 if the pull back comes.
Reply
Casey_Yeo KevinT
2 years ago
Thanks for your comments. I respect your view on divergence. I have not used MACD before (I'm assuming it is MACD in your image link above). Forgot to mention that the recent swing low around 1979 is target 1 where SL will be moved to BE. Let's see how this turns out.
Reply
Casey_Yeo
2 years ago
TP hit. I am really a lucky boy.
Reply
KevinT Casey_Yeo
2 years ago
Congrats!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out