ChartArt
Short

S&P 500 bears rule the house. Time to sell

FX:SPX500   S&P 500 Index
154 0 4
Bulls gave up. The price is now below the 200 SMA and below the recent lows and below the weekly S2 price and below the monthly Camarilla S1 pivot price and below anything bullish I had left on my other indicators. Therefore it's really time to sell now.

I tried exactly at the wrong time see things with the bull perspective, while being a perma-bear on this market since five months ago:. And there was no 'buy the dip' this time around.... just a dead cat bounce.

Short entry: Any peak between 2055-2065
Stop loss: 2071
Target: 1985-1978


My old charts from 4-5 months ago:








Comment: I should have gone with the obvious bearish rejection yesterday which caused the doji on the daily instead of waiting for even more confirmation, but on the other side you never know with these banks with seemingly unlimited supply of money to buy "low" ...

Now the downtrend is getting more and more obvious with rejection after rejection:
Comment: Bear we go!



I had shorted at the last chance, the bounce between 2059-2060 before it finally rolled over.
Comment:
Comment: The price has already fallen down to exactly 2050.00

I don't see it reverse until the close, so there is a decent chance the downtrend continues Friday until Monday.
Comment: There she goes. Down to 2046 before the close:

Comment: Daily closed bearish. Last update until the trend changes back to bullish. I don't see the current area of around 2045 as support that can hold the price up until Monday.

Comment: The price stopped declining on the monthly DeMark pivot around 2043 -- so far

Comment: The price actually stopped falling very near to 2000 points:

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