S&P 500: this short might just be the real one!
The SP500 index seems to have topped @ 4476. Technical analysis points to a sharper correction this time around:
- prices broke-out the long term bullish trendline
- short-term SMAs form an intersection above traded price
- short volumes are accelerating, as the daily range expands
- the new top formation saw the lowest traded volumes, signaling an exhausted market and low buying interest at these levels.
Next support should stand @ 4200. Short positions till this point, at least, should be easy money.
Below this level, more stops might get triggered.
Looking forward to your thoughts!
Trade smart!
- prices broke-out the long term bullish trendline
- short-term SMAs form an intersection above traded price
- short volumes are accelerating, as the daily range expands
- the new top formation saw the lowest traded volumes, signaling an exhausted market and low buying interest at these levels.
Next support should stand @ 4200. Short positions till this point, at least, should be easy money.
Below this level, more stops might get triggered.
Looking forward to your thoughts!
Trade smart!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.