Bounce and Retrace

FX:SPX500   S&P 500 Index
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Long SP500             and other instruments to see a bounce from current levels after today's price action. Longer term, there could be problems and we could see further moves below 1800.
Comment: Expect further upside and consolidation between 1910 and 1945, perhaps as high as 1980. The market will most likely trade in a range between 1850 and 1950 before either moving much lower (10-20%) during the next 3-6 months or slowly makings its way back towards 2080.

Related Ideas

Trade has worked out just as expected. This should now be the near term top and will be expecting consolidation prior to either reversing or heading higher. At this time, I suspect the reversal will take place; however, I would take such a position at a time when this will be evident.
spoteuro sarapuk
Definitely possible. Trading never has 100% certainties. The key to long term profitability is risk management and sticking to your trading plan.
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