I am short on SPX for a plethora of reasons. But for now we will only discuss the technical. We had a double top after this ramped bull markets ATH. It seems that the resistance created by that double top has formed a new downward channel. We have only had two bounces so it still needs some more confirmation before we enter a new trend. The real test will come next week. Will SPX hold a tripple bottom and resume to the last leg of its bubble? Or will we spiral downwards from the reverse head and shoulders into doom.
Cant wait for markets to open...
See you on the other side
my calls allways icy
darklord_
(Check out my other post if you want to see the full trade setup with targets, profit protecting strategies, and stop losses)
Komen
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Micky D's and T-Mobile cant hold you forever baby boy.