SPX500 : Bears Are Back - 2078 - 61.8% Fib lvl
SPX 500 is sell from 2818 but after breach of 2630 lvl on monthly the market is under bears grip and is sell on bounce !!
SPX 500 is very close to trend line support of 2320 but the VIX @ 35 would mean that this lvl would be breached soon for next fib lvl of 2078 in coming next week !!
RSI is close to 30 lvl so a bounce back possible in mid Jan 19 but on otherhand MACD has just started to fall !
How To Trade :-
Anybody who is short from 2500 and above continue till 1800 lvls with SL @ open on last monthly closing !!
or open new Shorts @ 2400 with SL @ 2435 !!
Just don't long we are in a --- Bears Market --- !!
SPX 500 is very close to trend line support of 2320 but the VIX @ 35 would mean that this lvl would be breached soon for next fib lvl of 2078 in coming next week !!
RSI is close to 30 lvl so a bounce back possible in mid Jan 19 but on otherhand MACD has just started to fall !
How To Trade :-
Anybody who is short from 2500 and above continue till 1800 lvls with SL @ open on last monthly closing !!
or open new Shorts @ 2400 with SL @ 2435 !!
Just don't long we are in a --- Bears Market --- !!
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