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Short

S&P 500 all-time-high bull trap finally complete

FX:SPX500   S&P 500 Index
427 1 9
The "S&P 500" finally made the higher high in the overbought region to potentially trap the last Summer bulls at the all-time-highs. Risk/reward is looking attractive again. Currently the "S&P 500" is at 2179.9 points after the Monday close of August 8, 2016.


Short entry: 2180
1. Target: 2125
2. Target: 2085
Last all-time high: 2187.1
Stop loss: 2188
Risk: 8 points to 2188 from 2180
Reward. 55 points to 2125, 95 points to 2085


Screenshot of the current weekly candle, after one trading day of the week has closed:

nice analysis and charts
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