UK100 H4: TOPPED OUT // correction looming // SHORT IT!(NEW)

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UK100 H4: TOPPED OUT // correction looming // SHORT IT!(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.

🔸 Summary and potential trade setup
::: US/Global stock markets are maxed out
::: British economy shrank by a record 20.4%
::: Hundreds of thousands of people have already lost their jobs
::: FAKE money printing won't prevent the collapse
::: 20/25% correction August/September
::: DAX down 5% in Europe already recently
::: QQQ/SPY joining BEAR party soon
::: UK100 distribution in progress
::: runaway gap
::: SHORT IT 5% gains at least short-term
::: more coming over next few months
::: unsustainable gains, game over now
::: distribution at the TOP setup
::: spells MAJOR trouble for the BULLS
::: BEAR cubs will turn into GRIZZLY
::: expecting CORRECTION to last next 4-8 weeks
::: distribution at the top in progress
::: will lose up to 40% during correction
::: There is no upside in this market
::: Get out / trim exposure / or SHORT IT
::: Game over bulls and market will shift
::: into BEAR mode August/September 2020
::: either way setting up for 40%+ correction
::: 4-8 weeks of correction incoming soon
::: better be prepared in advance
::: when there's GREED there's also PAIN
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment: BEARS
::: Sentiment outlook short-term: BEARISH

Comment:

The British economy shrank by a record 20.4% in the second quarter when the coronavirus lockdown was tightest, the most severe contraction reported by any major economy so far, with a wave of job losses set to hit later in 2020, according to Reuters.

Comment:

The data confirmed that the world’s sixth-biggest economy had entered a recession, with the low point coming in April when output was more than 25% below its pre-pandemic level. In recent months there has been a modest improvement as GDP rose by 8.7% M/M in June. Cumulatively through the first two quarters of 2020, GDP fell by 22%.