botje11

S&P500 SPX Head and Shoulders

FOREXCOM:SPXUSD   US SP 500 CFD
The US indices just kept on going up and up the past 2 months, like there was not stopping it. Each moment of weakness (were some bear traps on lower time frames past months), simply got pushed back up which eventually led to a continuation of the rally. Now for the first time, we dropped out of that channel and even did a successful retest. To prevent another bear trap, that thick support line needs to break tomorrow. We really need to see a good drop tomorrow, nothing slow, no hesitation, no sloping on that thick trend line . That H&S target needs to get reached in like 2 days. Need to see some real profit taking this time, otherwise i am afraid it will simply move up again, postponing a drop once again.

My long term view on the stock market, is a big bear market.


Previous analysis:
Comment: Finally some real weakness now, dropping as i asked for, with some speed. But, we should not act surprised though if the bulls pull something off. Normally, this should become at least a bigger correction. Think we should see 2700/20 even this or next week.

Comment: Target reached, so far no bounce so good chance we might drop some more before making a move up again. That green support around 2680/2700 might be a a target that could get reached and to take more profits (for the ones who keep some running)

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Boy, when you miss you really MISS.
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I think a good amount of crypto traders moved to forex, hope you update these more offen instead of the shitty bitcoin. Btw, nice call. I follow you to short it since 2780 and close 2740 :)
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botje11 vodanh85
@vodanh85, Nice, happy to hear about your profit, well done :). Yes, i do hope more want to look at Forex, would make my life a bit easier as well
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nice call sir!
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botje11 _justsome_guy_
@_justsome_guy_, Thank you :)
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Good call as usual! I'm actually shorting from 2816 and really happy about that trade! I'm aiming for 2630 which is the next major support. Do you think it's a good target?
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botje11 SwissQuant
@SwissQuant, Thank you :) very nice entry! I am long term bear, expecting big bear market. But for this wave it could happen yes, but only if the 2700ish breaks
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@botje11, long term bear in general or just towards the SPX?
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botje11 christiandeleon415
@christiandeleon415, In general about the economy and indices
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Holy shit awesome
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