FX:SPX500 S&P 500 index of US listed shares
14 days ago
With the S&P500 making new highs on no basis and serious resistance appearing at new levels, along with STOCHRSI signaling extremely overbought and begining to reverse, I would take a small short position at $2205 with a T.P. $2175
7 days ago
Trade active: Still holding, stop at $2217
6 days ago
Trade active: Target re-adjusted for $2185 (wanna free funds to allocate to commodities)
4 days ago
Trade closed: target reached
4 days ago
Comment: I still think there is much more potential downside, but commodities are a better allocation of resources right now with a higher r/r.
Trade the markets, not your P&L
@Reekardo, This is definitely a case of skewness, but price should always go back to the median. That's what I would bet on...
@AlexTrik, sorry, i meant to say option skew... heavy put owners from election anticipation... spx options were heavy to put side... now everyone owning under 2200 is a loser - hard to imagine spx over 2200 back in february.