FullTimeTrader

SPX500-bearish shark at key level

Short
FX:SPX500   S&P 500 Index
17
We can see on W1 chart:

- first lower low (price should continue the decline)
- 0.61 fib retracement as resistance
- strong structure as resistance

Here on this chart:
- ema 200 as resistance
- bearish shark already triggered
- from EW perspective price is forming a corrective structure, possibly wave 4

I would enter short now expecting price will fail to hold above 2.000 (my broker does not have it!!, will change it soon)

Best regards.
-

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.