The grey box shows SP500 in a sideways congestion from 2040 to 2140, about 100 points. Its been in this consolidation for about 6 months since Feb 2015.
From the speed and velocity of the drop after support/resistance at 2040 is broken, there is another second wave of selling coming.
Watch any rallies in the coming days and weeks. Its probably a bear rally, for the next leg down. Therefore, enter short either at resistance A (1970-1990), or resistance B (2040). Take profit target at 1820.
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www.ForexPositive.com
Twitter @ForexPositive
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From the speed and velocity of the drop after support/resistance at 2040 is broken, there is another second wave of selling coming.
Watch any rallies in the coming days and weeks. Its probably a bear rally, for the next leg down. Therefore, enter short either at resistance A (1970-1990), or resistance B (2040). Take profit target at 1820.
=====
www.ForexPositive.com
Twitter @ForexPositive
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