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2ndSkiesForex
Aug 27, 2013 1:38 AM

LH With Aggressive Selling Suggests Trend Rolling Over Short

S&P 500 index of US listed sharesFXCM

Description

After rallying to the daily 20ema, the index sold off over 15pts in a jiffy, suggesting the bears were happy to sell on any rallies higher or excuse (i.e. potential war in Syria'na). Obviously a new war of sorts will not help indices, and the technicals are supporting the major trend rolling over, now treating the daily 20ema as resistance and forming LH's (lower highs). Any rallies back into the 1668-1679 zone are opportunities to sell, targeting 1630, and potentially a much larger move lower
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