Since 2015 the S&P has been trying and trying again to push through the 2120 level. In July we finally saw it happen and the index remained above this level and stagnated for about 8 weeks. Then in one fell swoop crashed back down to 2120, tried to rally back up, failed and is currently sitting on this nearly 2 year price level.
I will be short the S&P from this point forward until either stops are triggered or targets hit. I believe that if the market falls below this level there will not be much hope for it to break back through again for quite some time. The North American Equity market at this point seems to be exhausted.
Please do not hesitate to leave your thoughts and comments!
The best of luck to all, IceTrading