MisterFXGuy

SPX500 / ES1! - Short structure not yet invalidated

FX:SPX500   S&P 500 index of US listed shares
Only 4 more of these daily candles remain until FOMC. See the links below for reference to my original idea posts on this, calling what could certainly be the top of the market.

The recent rally has yet to invalidate the most basic short implying structure (lower highs). I plan on holding *nothing* going into FOMC, so I leave this idea post as 'neutral'. Yet, I would be very surprised to see the S&P             make new highs next week or even following that.

However, if it does, I already have some resistance targets mapped out from months ago. For weekly support targets, see the linked post.

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Nice analysis! I have around the same idea.
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Thank you! It's going to be a very interesting next few weeks.. not at all surprising, in a way, but still incredible to see things looking so bad at such simple technical levels derived from the monthly candles in the linked idea post from 4 months ago. At least we have a short button, eh!? It's a good time to be a trader, that's for sure.
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