In this scenario - The 2020 level on the S&P will prove crucial in determining of the long-term bull trend (since 2009) continues, or if the damage is done and we slip (or crash) into a bear market. Confirmed reversal patterns at this level make a good case for a short position with a tight stop and good potential rewards, aiming to revisit the 1830 lows. Break and retest as support of this level gives a good entry for a long with similar risk/reward, aiming to revisit the 2140 highs.
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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.