Very high chance US markets (S&P500) will collapse from here (2910-2920) ... expected decline anywhere from 20-50%
First trend line (on smaller time frame) broken. Now rejecting near smaller time frame trend start.
Rejecting at trend start on larger time frame after losing trend Dec 2018
Smaller time frame short possible!
May precipitate bear market with declines up to 80%. 20-50% expected.
Russell 2000 is often a leading indicator for the larger market from my experience. Loot at /RTY and notice a failure to make new highs since the end of February. Now notice the trend break. Looks short!
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Based on price action: new higher high, it appears a massive decline is unlikely to occur. I'm looking to protect profits on this trade and reverse the position to the long side