S&P500 Potential Short

/ES is looking increasingly bearish. Lower highs and lower lows are evolving on the daily with 4200 area looking likely if further weakness materializes.

Today showed strength into a strong downtrend. All indicators are a-go for hunting shorts. I like the 4380 level for a swing trade, especially on a fast snap up on the US open.

Will comment below if order gets raised. Stay tuned.

Kommentera:

Decided not to raise an order this week. Price did not get to the 4380 level I wanted with a high of 4371.00 and grinding price action didn't feel sincere.

Price responded accordingly to the level and validated the short perspective. Today's close looks increasingly bearish. Staying patient and watching the 4200 - 4380 level next week.