Kumowizard
Short

SP500 Update - Reduce bullish exposure. Sell.

FX:SPX500   S&P 500 index of US listed shares
246 1 4
Weekly:
- Warning! Price is testing weekly Kijun Sen at 2060! Support below seen only at 1975 - 2000. If Price breaks below Kijun, we may see a same kind of quick drop as in October/2014.
- Warning! Heikin Ashi turns more bearish with haDelta/SMA3 back below zero line.

Daily:
- Warning! Ichimoku setup is turning neutral/bearish again, with bearish Senkou Span cross ahead. Iportant support at 2060+ was tested during Asian trading hours!
- Warning! Heikin Ashi signal is firm bearish!

Do you think it is going to be Greece to cause problem? Not necessarely. I think it is going to be something else to trigger more selloff and equity correction sooner or later... maybe China.

You don't have to look at daily 1-3 % moves. If you put it into larger perspective, this is nothing to deal with. The question is about long term risk/reward now! Look at the weekly or even at monthly charts. Just start to think about, that after 6+ years of massive bull market, what is the upside of being long equities from these levels, when there are many risk factors not properly priced in globally, and when rates are slowly, but increasing. With the end of the multi decade bond bull mkt long term alternative costs (so discount rates) will increase further. If this is going to happen, equities will minimum enter into top building phase here, if not end up in a major correction.

So I think from now the neutral or small short position has a lot better risk/reward than being long, especially against being leveraged long.
Short term key level is 2060
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out