SPX500: Monthly downtrend triggered

FX:SPX500   Indeks S&P 500
The S&P500 index has fired a monthly downtrend signal yet again. This could be the start of a decline to 1728.30.
Since our upside risk is so minimal, a short trade would be a good idea here. Risk a rally above 2100 to be safe, and target 1728.30. Keep in mind the sideways pattern Tim West had forecasted in his yearly forecast chart. If you haven't seen it, it's a work of art. See related ideas.

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Monitor this level on close today. A close below would be a good start. 209.54 SPY

Anticipating a gap down open tomorrow.
Komen: Next step 2060, below that, it can crash to the target on chart.
Dagangan ditutup secara manual
Useful analysis as always pal. Thanks
+1 Balas
Welcome, let's see if it pans out as forecasted, we still have to break under 2060 and accelerate down.
below 2070 i would long it
f1l1per. f1l1per.
srr for two replys:

I wouldn't try a long yet, better wait for price action around your level.
+1 Balas
Gap down sounds pretty good. I also see FTSE 100 falling as well. The pain from the Brexit will slowly start to show up on the charts. Just got to stay patient :)
+1 Balas
Hi Ivan thanks for chart. Is your downtrend call on Spx still on?
IvanLabrie Fitzndahyouwz
Since we didn't break the 24th's open, I think we might still head down, but it'll be safer once below 2095.40, and specially safe as soon as price accelerates below the monthly mode at 2057.90.
Let's see how it opens, the action in metals and bonds make this rally suspicious.
Fitzndahyouwz IvanLabrie
Thanks for the reply! I was going to sell my Vxx position if Spx closed over 2110 today. It got close.
IvanLabrie Fitzndahyouwz
Probably wise to hold it, although I'd rather not trade Vix directly.
Good luck next week!
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