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Joel_CoachK
Apr 13, 2020 6:01 AM

SPX500 - Will this be the top of the Dead Cat Bounce? Short

OANDA:SPX500USD1D
US SPX 500OANDA

Description

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Looking at the SPX500 Futures:

1. Looks like we could be at the top of a Dead Cat Bounce
2. If this is not the top, a potential tap off the 200 EMA would be where I would expect it to dump

Fundamentally due to covid and the world being under house arrest, I would not expect markets to continue to rally and I am bearish as you can be on a Macro Level.

Technically this is presenting a great short opportunity on open. I will go in with 50% of my position around where we are when we open, the other 50% I will add at the 200EMA and set a stop above it with room for a wick just in case.

Trade, Chart, Learn, Repeat

Coach K

Comment

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Looking like we are struggling a bit to go toward the 200ema lets see how this plays out

Comment

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Had the Daily TD 9 print today! This will drop soon patience and anticipation time
Beyond Technical AnalysisTrend Analysisdead-cat-bounceS&P 500 (SPX500)shortsetup
Comments
SpartaBTC
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SPX500 and Dow Jones are very interconnected.
Joel_CoachK
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@SpartaBTC, absolutely so are all financial markets atm and i think we will see max pain just as everyone thinks things are better, go back to work corona isnt as big a deal blah blah blah you get it haha
SpartaBTC
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@Joel_CoachK, Yes, I understand))
SpartaBTC
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Dow Jones 1915-2020 History of key U-turns. Situation now. My idea with a very detailed description.
Joel_CoachK
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@SpartaBTC, I have similar supports on my chart and i really like your analysis clean chart! Definitely agree with you my friend!
SpartaBTC
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Good job. Yes, there is a greater probability of this price movement.
Joel_CoachK
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@SpartaBTC, Thanks mate nobody knows when its going to finally give itself a dump but we all know it will come sooner then later!
SpartaBTC
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@Joel_CoachK, )))) Yes you are right.
Joel_CoachK
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Indicators are a mix but RSI based to show momentum. I dont really use them other then for confluence as PA and Volume are the Bread n Butter
bsimo0001
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Hoping for the same! Although it could be a down week this week overall followed by a final push upwards to close the gap to circa 2920 then big bearish move downwards.

What function do you use on your charts for those indicating markers?
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