S&P 500

SP: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

TP hit. I am really a lucky boy.
KevinT Casey_Yeo
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.
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.
I was lcuky to get a print screen of Marc Faber's system
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