JamesBrown
Short

SPX 500 Long-Term (Timeframe) Short

FX:SPX500   S&P 500 index of US listed shares
Monthly RSI divergence. Price trading outside of long-term price channel (dating back further than 1987             ). Price tested the "supply (overbought) line" to the mid-term price channel (dating back to 2009) and got rejected (red arrows show past and present rejections of this line).

We are due a big bear (recession) market. Look to the bottom of this huge long-term price channel as a possible major bear market bottom.

My trade sets the stop-loss above the 1.13 fibs-extension of the 2009 to present price swing and targets the price-time projection of the major bear market bottom. Risk to reward ratio is 7.28. Payoff projected around the end of 2022 (based off of the lesser sloping rate of decline between the last two major recessions of 2000 and 2007)
PKA
4 months ago
Extremely foolish.
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JamesBrown PRO PKA
4 months ago
Foolish is what I do best ;)
Reply
JamesBrown PRO
4 months ago
"The life of a contrarian is lonely, but very wealth producing" - me, just now :)
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