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SPX500: Monthly downtrend triggered

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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.

Check out my updated track record here: pastebin.com/6CyyqnPT

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Cheers!

Ivan Labrie

Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.


Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Nota
syot kilat

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

Anticipating a gap down open tomorrow.
Nota
Next step 2060, below that, it can crash to the target on chart.
Nota
syot kilat
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