SPX: Update

FX:SPX500   S&P 500 Index
We had a massive breakdown today, it's likely to get a time at mode short signal to confirm on Monday, if we don't retest the blue rectangle above. If not short, you make take positions at the open. Risk 0.5-1% on this entry.
Target is just the support below, but it could retrace after hitting the box target, or after the time projection ends.
Either way, I expect a considerable decline, after seeing a rapid shift of sentiment, right after Yellen's remarks, from massive amounts of bears, to bears who gave up, which gave us the right ingredients for a lasting top.

Disclaimer: I'm/we're long VIX             calls, with spreads and out of the money call options, and short SPX             via derivatives and equity

Good luck!

Ivan Labrie.
Comment: Shorted more against the downtrend mode resistance.

The stop here is tight, but should hold. If more conservative you could use 3x daily ATR, or go over the highest high.

I expect downside after this Friday's jobs report.
Comment: The shorts look good.
what will gold/crude do if this scenario pans out?
IvanLabrie selfhigh05
Hi, it appears to be a 'strong dollar' situation, so I'd expect them to drop.
couf it be a dommed patern
Hi, it could very well end up looking like that.
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