if it is not obvious by now that SPX reached its peak and it is in its right now to go down for some retracement. Taking into account all whats happening at the moment, from covid, stimulus inflation, etc, it's unrealistic whats SPX has reached the last couple of months with its parabolic move. This is unhealthy and not sustainable in the long run. So a proper correction is imminent for SPX to uphold its strength and continuous growth.
SPX has been trading in rising wedges, from top-down timeframes. The first rising wedge on the smaller timeframe has been broken today, however, with SPX strength at the moment, shorting seems to be a nerve-wracking issue.
I have indicated the major zones and levels from SPX lifespan on the weekly. As well, I have done my best to identify the patterns that SPX traded in their support and resistance lines which are helpful when these comes into play later.
whats your experience with shorting SPX?
SPX has been trading in rising wedges, from top-down timeframes. The first rising wedge on the smaller timeframe has been broken today, however, with SPX strength at the moment, shorting seems to be a nerve-wracking issue.
I have indicated the major zones and levels from SPX lifespan on the weekly. As well, I have done my best to identify the patterns that SPX traded in their support and resistance lines which are helpful when these comes into play later.
whats your experience with shorting SPX?