FX:SPX500   S&P 500 index of US listed shares
12638 70 192
SPX500             SHORT AGAIN
Yesterday we have a very good profit
for our short
and now we can short it again
sl above the high of "SEPT 8TH " candle
Comment: Very good drop now is 2159
Comment:
snapshot

One hour chart.
Comment:
snapshot
Comment:
snapshot
Trade closed: stop reached: Hit Break-even Stop loss after taking half profit at 2195
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If this will be ok , last xauusd analysis will be wrong ?
+3 Reply
Gurj AlperCanbaz
No offence, but if you are not over-leveraged and have sufficient funding, you can get in a trade, see how it's going and scale your positions accordingl. Jack isn't saying this will be a 100% success. He's suggesting an idea based on probability and technical analysis? @AlperCanbaz,
+5 Reply
@Gurj, The topic was about absolutelly different thing lol.. spx short is not good for gold bears.. but somehow big PRO projack is short on both at the same time.
If this strategy works I may try to short both EUR/USD and DXY.. who knows maybe works out.
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Royal_Marq MetalCruisers
@TPparadigma, Follow the chart. The fundamental analysis is not working in this situation right now. I hope you will get your answer.
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Rocketman PRO Royal_Marq
@Royal_Marq, Fundamental analysis is working perfectly at the moment.
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Calamity MetalCruisers
@TPparadigma, there are many like this, now, usd is up, gbp/usd is also up. and weeks ago, gold is up, dxy is up too all the way till election week. But i do believe this set up is prob only go to 213X area and then spx will go up to 2248 in longer term
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Gurj MetalCruisers
Ah ok, my bad. Apologies, in that case! @TPparadigma,
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@Gurj, not so much probability as much as chart analysis.
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@Gurj, this is worse than trying to pick a bottom... at least when you buy the dip, you know they are going to crush volatility at some point and you can sell VXX calls against your hedges when vol is over 20. the hard part now is that will the market take the VIX:SPx ratio to another level ??? right now VOL is a buy with the term structure now.
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tntsunrise TOP AlperCanbaz
@AlperCanbaz, U CAN SEE, gold and snp drop together. coz previous they rise together.
+1 Reply
AlperCanbaz tntsunrise
@tntsunrise @TPparadigma @Gurj , thanks for everybody for gold analysis, this metal is very mixed and mysterious
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IvanLabrie PRO tntsunrise
@tntsunrise, Jack, the situation changed since USDJPY bottomed, SPX started to correlate with USDJPY, and gold and euro move inversely (USD inflows coming from foreign countries to invest in US stock market)
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tntsunrise TOP AlperCanbaz
@AlperCanbaz, http://www.mrci.com/special/corr030.php check this. the correlation is now only -42
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Thanx Jack, good to see this post. I shorted yesterday. Are you looking to see a lower low from the previous low?
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Thanks for your analysis - very much appreciated. I'll wait for the RSI to turn below 80 and enter the trade.
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Beautiful. Thanks a lot Master!
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can you tell me a target?
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@BA7, you can see targets in the chart


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Thanks, Master Jack. You are a humble genius.
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Jack, do you decide to short this one becoz it has touched the trend line and you expected it to be a turning point?
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And you shorted at that time because this time period the market has more liquidity and more reasonable price action?
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last time when i short SPX 500, i found it's actually rising in the day and falling in the night lol
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and i live in australia
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@Calamity, Hehe There is always a difference in the timing
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on what basis are we saying a short.. just because of strong resistance zone here.!!
Or something else.
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AL_G yuvrajsingh7722
@yuvrajsingh7722, marketat near all time highs that when you short
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sorry I will not agree to that..if that would be the scenario then market will never be able to make a new high @AL_G,
I got the answer BTW done some research.
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$INDU has a big ending diagonal. The trade is correct, target is annual minimum probably in 5-8 "weeks" from now.
+1 Reply
amazing calls on copper, gold, british pound, nat gas & i must agree on this one, nobody will buy at thesehighs either.
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LOL, Jack, the SP closed below previous high. Nice trade
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Hello, thanks for posting the chart but
I suggest have more detailed charts.
for example your chart and it's description can be included the following items:
Your reasons about your analysis
Waves labels
Targets, TP & SL
+2 Reply
@Ashkian, it is already in the chart.
the reason is the structure, the target is the arrow. read carefully pls.
+4 Reply
x_style78 PRO tntsunrise
@tntsunrise, it is very clear and the arrows enough to read the chart, thanks allot.
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Good Job Jack, i hope it will continue...
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WoW! You are still awake! Amazing gold performance! Thanks so much!
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Market is too volatile to predict right now, but I like this. I see limited upside next week, but overall (opposite) brexit action in the coming days.
+2 Reply
Charlessrhodes1 xsubtownerx
What's the analysis on this trade? Just out of interest
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xsubtownerx Charlessrhodes1
@Charlessrhodes1, corrective wave pattern.
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@tntsunrise , please check this out and be careful , my view tells me it gonna go higher. cheers & good luck
snapshot
+1 Reply
AL_G Nshan
@Nshan, damn you think were going that high & possible rate hike in 3 weeks
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snapshot


Waiting vix crosses above his ma9 and I will short spy .
+1 Reply
Now the trend has been changed or what?. Can i wait or close the trade. I have open short last week 2174. sl 2192.
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Price has not broken wedge yet. Seems to be pulling upwards out of wedge as of now. Dollar is strong and YEN is weak which is good news. Next week in Thanksgiving Day and markets rarely crash during that week. While it is possible I sort of doubt it as we have Black Friday coming up as well
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Calamity TheWave
@TheWave, lol
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TheWave Calamity
@Calamity, I was just looking at the 3rd week of December which will be Friday December is 16th for this year due to us starting the 1st of December on Thursday. Every year over the last year we had huge moves or as I would call reversal days. These reversals for that particular week are 600 points on up. After the dip we had a huge reversal (pullback) to the same levels roughly from where they dropped off of.

Look at link below and go back to 3rd week of December for the years of 2015 and 2014. The 3rd week is when the last quarter of futures expire. This year it happens to be Friday the 16th. We should have a contest to see who can play and time this right for a possibility of big money to be made during that week if this year plays out like the last 2 years did.

http://www.investing.com/indices/us-30-chart
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Calamity TheWave
@TheWave, 1st, for SP I strongly recommend u look at weekly chart, 2nd this index is making lower high and higher high, its still on the up trend, 3rd I didnt see any right shoulder of 618 786 886, 4th the indicator is uptrend. And last , due to the inflation , now it is slower to make head than make a bottom, it may take months or years to form a real head, no need to rush in short position ?
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Bearbud Calamity
@Calamity,

If you are in a short would you cut your losses and get out or do you think we will have a pullback?

Thanks
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Calamity Bearbud
@Bearbud, I think we might have pull back when price reach 2208, or maybe it go straight up to 2248/2275, and with high leverage you wont be able to hold it through. Let's say I use 20x leverage, and my stop loss is fixed20pips..... If i get stopped out, i lose 2-3% of my account money.

I had entered a long position @2172, If I shorted at that price 2172 and used 2x leverage, price=2192, 200pips will be the max loss im willing to take. but it depends on how much is ur leverage. Im using high leverage so i always cut my loss when price against me 15-20 pips.
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Bearbud Calamity
@Calamity, Thank you for the Reply.
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Jack,

Are you staying short or closing trade since it rose to 2196?
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@Bearbud, according to the plan, i was stoped out. and only untill just now, i find a reason to re-short.
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Sir, are you still in?
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@leeeon, stopped at 2197, re-enter at 2202
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leeeon tntsunrise
@tntsunrise, I was stopped at 2195 and re-entered 2200.10 :) I watched you webinar yesterday and thanks to you im in profitable transactions right now :) (short sp 500, long silver, and short usdjpy). Keep it coming !
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leeeon tntsunrise
@tntsunrise, Could you tell me where is your SL now?
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I'm in as well! Waiting for the waterfall!
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Jack, this is a great call.
Your determination in renewing the short sale trading position indicates that you are a genuine bear on the S&P500
My view is aligned with yours
2205.2 might prove a very long term top for this index ... measured in decades.
Congratulations!
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Hello Jack, are you still in your S&P trade, re-enter 2002. Thak you for your help Master
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@Pringem, still in
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Hello Sir.
Where is the stoploss at an all-time high?
Thank's for your Fever
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RSI and CCI is perfect for short. What else do you have for indicators?
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@gestoert, I dun use indicator a lot. because indicators are lagging. if the candle doesnt move, the indicator wont move. read the candle is more important
+1 Reply
IvanLabrie PRO tntsunrise
@tntsunrise, indeed!
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Thank you. I agree with you.
The chart on the S & P500 looks bullish.
Which candle do you mean giving you a negative sign?
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HI Jack, Normally you use to tell about the pattern on charts, but in this chart you hadn't mentioned anything. Is it based on resistance or you personally think that correction is due? I think if you look in weekly and monthly chart, they seem quiet bullish.

Your comment will be highly awaited.
+1 Reply
Sir, S&P right now is 2209.1 , you entered at 2202. Are you still in this trade?. Thanks
+3 Reply
Any update on this one sir?
+1 Reply
Reekardo leeeon
@leeeon, crickets??? 2260 is the next projection and quarterly resistance.
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Jack , we wait for the small pullback and short sp ?
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I feel the short is coming tonight
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