On August 15th, the S&P 500 quotation has reached 2,193.90 The monthly candle of August is a 'spinning top'. I am bearish (long term view) this indices with a stop loss just above 2,202 and expect a close for September just around 2,133. My first short term target is around 1,650
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Update and trade signal:
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2185 might be a great level to place a short-selling position on S&P 500 Risk is low, with a stop loss just above 2194 (the historical high). If this will prove as a tentative double top, it can be a long term profitable trading position. Let's see if the market confirms!