SPX Possible Short Entry
Updated
If we push to 3860 or even 3900, I will consider entering a short position in this area. That yellow uptrend line is 10/13 low. So I'm thinking within the next couple hours we can jump above that upward trend line from the 10/13 low and then start to roll over before the end of the day. If we close today with a bullish candle, I'm going to continue to sit on my hands before I think about going Bullish. If I decide to get in around 3860 or 3900, I'm gonna put this out for 3-4 weeks, risk 2% of my portfolio. That would still give me enough time for the market to decide if it wants roll over. If it continues higher the coming weeks then I'll have to reassess and consider a Bullish plan. 
I also flipped over to the daily chart and placed an Anchor VWAP at this years high. And if you see, we have entered into the bottom have of the bollinger band. I've seen this happen before where it hangs out towards the bottom before it caves in. Again, look at the reaction it had back at the beginning of June when we were hanging out between the 20 and 50 EMA. We were touching the bottom of the band width before it gapped down.
I also flipped over to the daily chart and placed an Anchor VWAP at this years high. And if you see, we have entered into the bottom have of the bollinger band. I've seen this happen before where it hangs out towards the bottom before it caves in. Again, look at the reaction it had back at the beginning of June when we were hanging out between the 20 and 50 EMA. We were touching the bottom of the band width before it gapped down.
Trade active
Executed my trade. 4 weeks out.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.