SPX - Doing what she likes, S&P500, SP, US500

Called the Long position a couple of weeks back. It's now set up nice for a drop. Not taking it immediately, should wait for a confirmation. The end of the cycle is here, the DXY is down on it's knees. So it's going to pullback.

Looking at the pattern on the chart itself - we have a great W formed and Stochastic is overbought. We still have a false bar in the stochastic, so it's going to bounce a little higher before the real drop from here.


Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

Comentarios:

she is still not ready to drop another area of interest before the drop likely.