FX:SPX500 S&P 500 index of US listed shares
Bulls try to do their best to protect 1840 key support! The low reading of might help them, there is some chance we can see a correction from here towards 1860. If that happens I would defenately use is for exitting all remaining longs and build short positions further. New signals that are confirming the reversal on 4 Hrs: Chikou Span dropped below the Kumo, Kijun dropped below the Kumo, Future Kumo is clearly bearsih and Senkou A started to point down. Strategy is same as before: Sell either the retest pulbback ard 1855-1860, or if not reached then sell the next cross down of Slow . or the break of 1840. On pop ups option strategy is to buy 1840 / 1790 Put spreads for May exp . date. Initial Stop is 1876 for now.
If short is not stopped out, then initial tgt can be 1790. Normally I do not like to put on tgts, but to move trailing stops lower, after we reach some important levels during a trend. Thrn is a collapse happen, u will hv the position on still, as u do not place a pre determined limit order