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effilang

S&P - Short Opportunity

Short
S&P 500 Index (FOREXCOM:SPX500)  
effilang  
FOREXCOM:SPX500   S&P 500 Index
Trend Analysis Chart Patterns Technical Indicators sxp500 short Bearish Patterns SELL signal Technical Analysis
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trendanalysis chartpattern indicator sxp500 short bearish sell signal technicalanalysis
There is an opportunity to short the S&P on 61.8 FIB retracement of H: 2874 - L: 2840, indicating commencement of Elliot Wave 3 on the 5 minute chart and lending power to the start of Wave 3 on M60.
We have a Wave 3 confluence on both time frames.

- Short entries may be initiated between 2862 - 2857
- Stop Losses should be above the swing high of corrective 2867 (short term) and 2874 (long term)
- Target Point A: 2875
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