dhananjay.d.joshi
Short

SPX500 short trade for next 10 to 20 trading days.

FX:SPX500   S&P 500 Index
snapshot

As we can see we have downtrend channel resistance just above the price and demand zone just below the price, going long from this point wont be that good trade.
snapshot


Sharing updated analysis.
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We can expect big down move in near future, If you observe the volume in recent up move then price was rising and volume was dropping, which indicates upmove will end soon.

If price closes above resistance with rise in volume then it may trigger fresh up move. In my opinion happening of which is difficult.
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price ready to test trend channel, If price closes above the channel resistance then supply zone above it will give us shorting opportunity. I am recommending short trade in this setup, just because the risk to reward ratio in short trade is good as compered to long trades.
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