Negative Bank and Oil news surprises will drive Wall Street down

Everyone is getting so excited, while my indicators are turning down. Good opportunity to short the happiness.

Short entry: 2074-2086
Stop loss: 2095
1. Target: 2033
2. Target: 2015
3. Target: 1915

First negative news today:

Crude Extends Losses After Bigger Than Expected Inventory Build Trumps Production Slowdown
www.zerohedge.com/ne...s-production-slowdow

Oil falls as Saudi oil minister plays down prospects for output cuts
www.investing.com/ne...r-output-cuts-395172

Peter Thiel Says Everything Is Overvalued: "Public Equities, Houses, Government Bonds"
www.zerohedge.com/ne...ses-government-bonds


P.S. The blue, gray and green lines are monthly and yearly pivot points

P.P.S. Indicator example is the full stochastic oscillator with the settings from stockcharts.com...school/doku.php?id=chart_s...

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The S&P 500 rallied beyond my stop loss recommendation of 2095, but after the failed oil supply cut talks in Doha I remain bearish on the S&P 500, even after it broke the 2100 barrier

This week could be the peak as the oil story starts to get bearish again:


"Wall St. flat as strong earnings counter fall in oil"
www.investing.com/ne...ift-sentiment-396704

"U.S. stock indexes were little changed on Wednesday April 20, 2016 as encouraging earnings reports offset oil prices sliding on renewed concerns about global oversupply.
Crude fell about 2 percent after Kuwaiti oil workers called off a strike that drove up prices and helped the S&P 500 breach 2,100 on Tuesday, about 30 points shy of its record high.

(...) Nadia Lovell, U.S. Equity Specialist at J.P. Morgan Private Bank expects the market to edge up on Wednesday, but cautioned that investors remained wary. First-quarter earnings at S&P 500 companies are expected to have fallen 7.6 percent on average and revenues are seen dipping 1.3 percent, according to Thomson Reuters I/B/E/S."

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Forgot to add this part of news:

"Declining issues outnumbered advancing ones on the NYSE by 1,369 to 1,249. On the Nasdaq, 1,187 issues fell and 1,001 rose."

- Wall St. flat as strong earnings counter fall in oil (Apr 20, 2016 09:55AM ET)
www.investing.com/ne...ift-sentiment-396704

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Update 23 days later:

The S&P 500 has started the decline I had envisioned. Question is if the downtrend accelerates in the next two weeks or if it first reverses with a bounce - as I predicted eight days later here: