funkymonkey23
Short

SPX500 Bear Gartley Setup

FX:SPX500   S&P 500 index of US listed shares
Enter an initial short around this range (2050) and scale in through 2065. Commodity weakness coupled with relative weakness from the Russel 2k indicates this run won't end well. Fed risk next week and lots of pivotal earnings, which has been weak to this end.
Sorry, you must go long instead of short
Reply
AndrewMills Tradebert
a year ago
I disagree. Just because we are getting a TECH pop, doesn't mean it will be sustained. In 2000, everyone was buying big at the top... consumer confidence was at the high... just like now... consumer confidence is a lagging indicator... when consumer confidence is at a top, it's time to get out of dodge. Most of the industrials are sucking wind... CAT has 34 quarters of declining sales... IBM is down big... retail is not doing well... the financial sector is getting helicopter money... how is any of this sound economics? If the economy were so great, WHY DO WE HAVE ZIRP AND NIRP??? That fact can not be denied. Stock buybacks at all time highs, M&A craziness, meanwhile, as the 1% are lining their pockets with free money, the employees job are getting sent to china and mexico when these businesses could be paying American workers better wages. But, the plan is, global companies, where everyone is enslaved a low paying jobs, while the top 1% live off the backs of their labor. Just because slavery was abolished in the 1800's, doesn't mean those attitudes were abolished! They were emboldened!
+1 Reply
funkymonkey23
a year ago
Mildly upside down here, this trade is trying my patience, tick tock....
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