lucky human foot
Short

S&P500 Crossing long upward trendline. No resistance before 1600

AMEX:SPY   SPDR S&P 500 ETF
294 11 2
S&P500             crossing over long upward trend line. No resistance before 1600

limit 1650

stop 2050
SMP99 PRO
2 years ago
snapshot


I agree with your price target...but wouldn't you expect the bottom line of this 5 yr channel to provide support prior to 1600?
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lucky human foot SMP99
2 years ago
You are right.. I agree that this line will definitely provide support.
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SMP99 PRO lucky human foot
2 years ago
in fact, might kick off a fairly large rally. enough that if one is short, would likely want to cover on hitting that and re-short later. Either way...seems highly likley we will go back retest those old bull market highs at some point.
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lucky human foot SMP99
2 years ago
yes, the only question is when :)

But short-term the trend is definitely showing great weakness right now
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lucky human foot lucky human foot
2 years ago
I hope I wasnt to quick on this one. It touched a second support line today which held, so maybe it will hold for now but definitely under observation
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lucky human foot lucky human foot
2 years ago
snapshot
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SMP99 PRO lucky human foot
2 years ago
also, on a log of the S&P, pretty strong support below that goes from 09 lows up on to 191 i believe. need to check
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SMP99 PRO lucky human foot
2 years ago
snapshot
depending on placement...i got either 1930 or 1820. Either way, this trend I think would trump the others as it cover the entire bull market rally from the beginning.
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lucky human foot SMP99
2 years ago
You are right, it will be a bit blurry and take some time before this trend turns.. but if it starts to test the support lines the trend change could be near.. however definitely no rush to short this one as it could also take another leg up.
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j0turne
2 years ago
Where are you buying for the short?
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lucky human foot j0turne
2 years ago
any broker which offers CFDs would do. Just be sure to check the fees.. meaning that they dont have crazy fees for overnight holdings or too big a spread or too high interest rates for margin trades
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