YaKa

SPX - Big picture review

FX:SPX500   S&P 500 Index
146 0 5
This correction has impressive dynamics.

Since large corrections can last 3/4 weeks and SPX             has only been falling sharply for 4 days. it is dangerous.

There is an important support at 1960 and another one at 1900ish... as long as the area hold we may still have a new top.

Clearly SPX             got out of the logarithmic wedge .. a touch from outside in 2200 is still possible (would be ideal) but is not granted.

Worst case: 1700/1670 if a tsunami unfolds in the next 2 weeks and ISM is bad on the 1st of September with 2 days capitulation...

CRITICAL TRADING and not one where you much time to think..

Use options if you want to play the upside: the call oct15 2100 is very cheap (less than 10usd).
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