S&P 500Short
SPX500 top in place just below 3600 mark ?
SPX500 finally reversed sharply from resistance zone around 3600/10 levels. The indice still needs to break below 3350 immediate support to confirm a top in place. Also the trend line support since March 2020 lows at 2200 would break, and SPX500 would enter the sell zone. High probability remains for a larger degree Wave 5 termination around 3588 levels. If the above is correct, SPX500 might be set for a huge reversal towards 2200 in the nest few weeks. Good to sell on rallies.
Remain short, stop @ 3600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 3600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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