A long term bearish view on S&P 500
On August 15th, the S&P 500 quotation has reached 2,193.90
The monthly candle of August is a 'spinning top'.
I am bearish (long term view) this indices with a stop loss just above 2,202 and expect a close for September just around 2,133.
My first short term target is around 1,650
The monthly candle of August is a 'spinning top'.
I am bearish (long term view) this indices with a stop loss just above 2,202 and expect a close for September just around 2,133.
My first short term target is around 1,650
Note
Update and trade signal:Note
2185 might be a great level to place a short-selling position on S&P 500Risk is low, with a stop loss just above 2194 (the historical high).
If this will prove as a tentative double top, it can be a long term profitable trading position.
Let's see if the market confirms!
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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.