Warning: Big correction ahead!

OANDA:SPX500USD   S&P 500 Index
On 4hr chart, we have seen continuous divergences on MACD , RSI also starts showing divergence. It's time for a daily basis correction after the previous bullish trend for almost half a year. Expect to reach target region around 2740, where shows a strong support/resistance level. Keep in mind that the long term trend is till UP!
Sep 24
Comment: Today's volume is really low, meaning that the buying power is dying out even at low RSI, very likely another red day!
Sep 26
Comment: I highly doubted this will go very far. I ll close my short around the trendline
Sep 27
Comment: The rest of the two days will be important. We already had a two day sideways, the dropping should be hard if it's really heading south. But.. I doubt it since it looks more like another correction for up. If not hard drop for the rest of two days, I ll close my short around 2880 area

Oct 04
Comment: I am gonna close my short once it retests today's low. The big correction is not here yet.
Oct 05
Trade closed manually: As expected, closing my short here. I think we ll probably heading up in the second half of this month.
“Rise” that is.
Wouldn’t be surprised to see a little more rose before the next significant correction.

+1 Reply
@goodguy, With the huge volume breaking the January top two days before, it probably worth a try. If I the price stays flat for the rest 3-4 days I will definitely close my short:)
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