Kumowizard
Short

SP500 - Take profit, correction is more likely now

FX:SPX500   S&P 500 index of US listed shares
258 0 2
Watch price development, as I think this Bull deserves some rest.
Now also 4H time frame suggests that correction is likely to come to a minimum tgt             of 1820-1825.

You can say 1 % is not a big deal... well, it is not until the bottom of the thick cloud on 4H chart is so far away and Chikou (dark blue lagging line) does't cross down px             candles.

Let's see how it plays out, and watch if we get there. Then we can check if it will enter sideaway consolidation, break down, or gets bullish momentum back and gives a new buy signal.

Ideas:
1. Take partial profit on outright longs.

2. buy March 1825 (LP) / 1785 ( SP             ) Put spread for ES ( E-mini S&P 500             futures ) - mid px             is abt             10 points, which is the max risk on the trade vs max profit of 35 points. Options exp             . is 30 days from now.
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