Just a quick update... We're looking at 1hr candlesticks on the S&P500 right now..
I saw on this short term downtrend we can draw some trendlines already... I made 2 possible options that may lead the price down.
We find a small Head & Shoulders formation on which we broke the neckline. Still strong bulls after that as we can see it headed up pretty fast. Our downtrend resistance (Bear trend 2) holds perfectly and takes us further down.
Let me know what you guys think. :)
profitable regards, Perspect.
This picture down here is a post of a couple of days back. Just wanted to show you guys this might turn out very Ugly for the shareholders of S&P500, DJIA, Nasdaq,..
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seems like our bear trend 1 (resistance) is holding! we'll see where we close today..