Shorts Should Cover ..'Island Gap" Bullish Reversal Possible !

US SPX 500OANDA

Description

⋅ May 9, 2019 7:56 PM

S+P 500 could to be setting up,
or a very sharp move to the upside,
technically called an "Island Gap Reversal"

Overnight risk is extremely high,
for any short position.

Risk./Reward potential tells me to cover short positions
by today's market close.

If I am wrong about this,
there will be plenty of additional opportunities
to get back into a short position.

This is not trading advise.
Please remember that.

SPX Last 2870.89

THE_UNWIND
5/9/19
NEW YORK

Trend Analysis

Comments

mstable

⋅ May 11, 2019 2:27 AM

Excellent technical analysis. Turned out 200% true!

W3rN0tAl0n3

⋅ May 9, 2019 8:42 PM

Thanks for the heads up....I hadn't heard of that before (Island Gap Reversal)....see, you learn something new all the time....we'll have to see what tomorrow brings- Mad Money made a warning about Uber's IPO and China tariffs kicking in overnight (supposedly), that they seemed to think could have an adverse effect on the market tomorrow so we shall see- if the tariffs don't go into effect it could bolster your theory, ;-).
All the best buddy.

W3rN0tAl0n3

⋅ May 9, 2019 8:43 PM

@jeremy.jacques79, ....Not that "Mad Money" is the expert on all things involving the market, but it is one source that I check for info-bits, ;-).

The_Unwind

⋅ May 9, 2019 8:53 PM

@jeremy.jacques79,

Thanks Jeremy.