'Once Bear market confirmed (20% decline from a recent high), the Bear markets would have lasted 13 months on average, and usually stock markets tend to lose 30% of their value. During those conditions it usually takes stocks on average 22 months to recover according of analysis from Goldman Sachs.'
Well, the decline has been accelerated after breaking the important neckline support on December (please refer to the attached chart). In fact, price was unable to sustain at above 2800 level and was quickly melted down after G20 meeting. Since price was heavily oversold for the past two weeks, I would not be surprised to see a strong technical rebound for S&P 500 back to 2500 or above. Keep short but will cover partial short positions near 2300-2350 level.
Well, the decline has been accelerated after breaking the important neckline support on December (please refer to the attached chart). In fact, price was unable to sustain at above 2800 level and was quickly melted down after G20 meeting. Since price was heavily oversold for the past two weeks, I would not be surprised to see a strong technical rebound for S&P 500 back to 2500 or above. Keep short but will cover partial short positions near 2300-2350 level.