SPX500 mid to longterm SHORT bearish Cypher, longterm resistance
In my scenario the SP500 and markets im general might shoot their last fireworks to have a final champagne party on Mario Draghi and the ECB 0% interest rate medication.
However the longterm resistance line from May 2015 high is coming southwards, looking to meet our curve around 2080 levels with RSI and stochastics in the daily chart hinting at a possible deeper decline, with 1st support being seen in the red uptrendline from march 2009 lows and the 0.23 fib support at around 1785.
Please see this information as a theoretic example and not a trade idea. Make your own analysis and plan your trade thoroughly and well-slept.
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Since we have beautifully completed the bearish cypher pattern as expected, we might soon see the last rally before the deep correction. The media might call it crash but it will just be a natural reaction within major economic cycles.