SPX Correction

FX:SPX500   S&P 500 Index
Expecting SPX             to correct to 1950. It sits nicely at 38.2 retracement.
A slightly hawkish Fed and a off hand statement or two should do the job.
If this pans out, I would also expect similar downward move in oil             with USOIL             going to 33.5 levels.

Related Ideas

why do you still think we are going up? thanks in advance.
Kaustubh Reekardo
Hi Reekardo, at this point it's a failed trade. Sometimes things don't work out. All good.
Reekardo Kaustubh
i see futures are getting sold at important 2027.75 ES mini ............ 2045 is a major resistance, but i think major shorting will take place at 2027
Kaustubh Reekardo
Interesting! The lines you see on the chart above were drawn on weekly chart. They should be clearer in the chart below

Around 2050 is the upper channel so you are on to something. Thanks.
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