In this chart I describe a potential short setup present in the weekly chart, now confirmed. If we were to get a retracement, then it'd be possible to short at 2060.61, with a stop at 2086.98. If not, the entry will have to be at market but the distance to the stop will increase dramatically.
Monitor reaction to the targets on chart, it's not clear if this will be the start of a new downtrend, or just a correction, but it has all elements of a potential global meltdown. Stay vigilant, tread carefully.
Check out Tim West's "Key Hidden Levels Chatroom for more insights on the stocks, bonds, metals, currencies and Bitcoin markets. I'm currently managing a private trading room for Forex, CFD and Bitcoin futures traders. Contact me for more details on how to join either of the two.
Regards, Ivan Labrie
Komen
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Working let's see how it goes. Place stop at break even.
I think we are back to the level here to short... 2061.72 last...
IvanLabrie
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Excellent!
Bitcoin15
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Very good ...the GLOBAL MELTDOWN has begun...
IvanLabrie
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I truly think so.
dingying85
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Hi, looks like your target in the chart 1950 will hit tomorrow, will you buy SPY then? or will it fall further?
IvanLabrie
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Hi!
Right now I'm focusing on a For ex basket trade and individual stock picks, not trading indexes in general.
I'd news evidence that support holds to buy. Right now there's no such thing here yet.
cheers!