SPX may reach 2080 which is clear resistance area.
if so attempt 40% short at 2080 stop 2095 on close.
Trade time frame: 4 weeks.
If 2080 is cleared and the stop taken, SPX may climb to 2120 and could grind higher from there. I dont think this is happening but it is a possible scenario.
Comments
FreFri
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You are surely a more experienced and succcessful trader than myself. (a mere amateur, if even that) I've tried my best not to write this comment, because it is inflammatory, but I can't help it any longer.
You seem to think the markets are stretched. I think most would agree and that you will eventually be proven correct. But TIMING is what you seem to completely ignore. Even if you stuck to sound money management rules, it seems to me that if you really traded all your shorts you would have been decimated by now. Sure, some of your shorts end up being "right", but that's to be expected when you post new ones incessantly. And even when the market does temporarily go down after some of your shorts, whatever profits made from them are soon wiped out when the market rebounds. Yet you don't seem to care, you simply continue posting new shorts. Why?
Of course, you are free to post whatever you want. You are a popular user and you really have no reason to care what I think.
YaKa
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To put it differently:
Bulls win above 2085 but could not go very far (2/3% higher)
Bears win below 2040 and this time they may well break below 1980 to 1930/1880.
IanLip
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will be watching, I think higher first before a correction
IvanLabrie
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Interesting, might end up agreeing with my usdjpy view if this is the case.
Good one Yacine ;)
You seem to think the markets are stretched. I think most would agree and that you will eventually be proven correct. But TIMING is what you seem to completely ignore. Even if you stuck to sound money management rules, it seems to me that if you really traded all your shorts you would have been decimated by now. Sure, some of your shorts end up being "right", but that's to be expected when you post new ones incessantly. And even when the market does temporarily go down after some of your shorts, whatever profits made from them are soon wiped out when the market rebounds. Yet you don't seem to care, you simply continue posting new shorts. Why?
Of course, you are free to post whatever you want. You are a popular user and you really have no reason to care what I think.