In this scenario - The 2020 level on the S&P
will prove crucial in determining of the long-term bull
trend (since 2009
) continues, or if the damage is done and we slip (or crash) into a bear
market. Confirmed reversal patterns at this level make a good case for a short position with a tight stop and good potential rewards, aiming to revisit the 1830 lows. Break and retest as support of this level gives a good entry for a long with similar risk/reward, aiming to revisit the 2140 highs.