The S&P 500
has been in a Bear
Trend on the 1hr since Dec
2. We will continue with that theme and sell rallies. This is at market Sell on the S&P
. Stops above the last swing high and Targets are down at the lows and 1.27 Fib Ext (all shown on the chart). Entry was a rally into the 78.6% Fib Retracement, 1.618%Fib Inversion, and a complex pullback in the form of a Harmonic
Move (not quite an ABCD pattern
because the C leg didn't retrace to the 38.2%). This trade is producing very good Risk to Reward, especially if you trade with (2) Contracts.