traderWgun

Never sell a bull market...or?

FX:SPX500   S&P 500 Endeksi
13
There is evidence that suggest that a correction maybe on the cards for the us indices.
The reasons why I believe that a correction could be under way:

*Shooting star on the weekly

*Evening star on the daily

*Wave 3 has reached the 238.2% extension of wave 1

*Wave (v) has reached the 1.618% extension of wave (iii)

*Bearish divergence on various time frames and indicators

*Fake break on 4H chart

*QQQ Powershares (which is highly correlated with SPX)
has started to make lower highs and lower lows.

*Other correlated markets (JPY pairs) are also showing
signs for more weakness.

*5 waves up from 1073 and on several other time frames.

Look below for more charts that visualizes some of those reasons.

MY PERSONAL VIEW

I won't sell this market against the shooting star because this
is still a bull market. If you look below at the longer term chart,
you will see that there is still more upside to come.
We will probably see >SPX2000 some time later this year.

In other words, I will look to be dips on the daily and weekly.

You can follow all my demo trades at www.myfxbook.com/mem.../tlkemmy/demo/854232
Good luck.

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.