Hello everyone.
As you probably know, October has been the best month for the SPX500 for years. However, as far as I can tell, bulls are exhausted, so it's time to sell.
Fundamentals looks promising, everything is good news, but reality is that nothing can grow at this rate for too long. In addition, we're reaching a resistance and I see a possible support that's about to be broken. MACD also looks like this uptrend is losing strenght, so everything looks like soon we're going to have a good time to sell.
I'm a bit skeptical about this, so I will just go short until 0.382 fib level (2020,3 points).
Good look to everyone, and if you don't mind, tell me if you agree or not(and explain why, of course).
Thank you very much for reading.
As you probably know, October has been the best month for the SPX500 for years. However, as far as I can tell, bulls are exhausted, so it's time to sell.
Fundamentals looks promising, everything is good news, but reality is that nothing can grow at this rate for too long. In addition, we're reaching a resistance and I see a possible support that's about to be broken. MACD also looks like this uptrend is losing strenght, so everything looks like soon we're going to have a good time to sell.
I'm a bit skeptical about this, so I will just go short until 0.382 fib level (2020,3 points).
Good look to everyone, and if you don't mind, tell me if you agree or not(and explain why, of course).
Thank you very much for reading.
Comment:
Trade still open. Let's wait. MACD looks like the downtred is getting stronger.
