Technical play based on fundamentals. Trump impeachment or resignation negates.
On the weekly we have seen a 76% retracement of the 1st wave correction from 286 to 253. At the same time tax cut euphoria has passed and Trump policies finally starting to affect the markets negatively.
The SPY at Trump's election was +/-266 making it a level to watch
Playbook is short 272.50
TP1 - 234.69 (projected 3rd wave)
TP2 - 224.00 (projected 5th wave)
A weekly close above 280 weakens this outlook. Above 290 negates.
On the weekly we have seen a 76% retracement of the 1st wave correction from 286 to 253. At the same time tax cut euphoria has passed and Trump policies finally starting to affect the markets negatively.
The SPY at Trump's election was +/-266 making it a level to watch
Playbook is short 272.50
TP1 - 234.69 (projected 3rd wave)
TP2 - 224.00 (projected 5th wave)
A weekly close above 280 weakens this outlook. Above 290 negates.
Nota
Market is testing 266. Spotted Dark Pool activity as high as 270.50Bearish view holds and we at the very least should see at test of 251
Nota
Stop Loss on this idea moved to just above 269Nota
Trump win was plotted in 2017 instead of 2016. A corrected chart has been posted here 
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.