SPX500 prepares for the next round of selloff towards 1750
SPX500 seems to be ready for the next round of selloff towards 1750 at least as Wave (3) of a larger degree progresses. Moreover, the conventional Head and Shoulder reversal pattern is also ready with the last step, the Right Shoulder around 3230 before reversing lower. It is not seen here but the indice might be preparing to drop lower as Wave 3 unfolding at multiple degrees. What this means in simple terms is that the drop is going to be very sharp. Overall, the SPX500 is expected to turn lower, as long as 3400 is in place.
Strategy:
Short against 3400, targeting lower towards 1750.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Short against 3400, targeting lower towards 1750.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.