I like to see at least one attempt higher before the long anticipated reversal starts. If however price moves lower from here I need a minor consolidation before considering the sell.
Safe trades!
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We saw the move higher although it was very short lived. Short term we might see some more short term bullish price action since the move lower from the 2453 highs looks corrective. IF we see a consolidation, price most likely presents a buy opportunity. If price does not make a clear consolidation price can easily make a lower low within this correction. -> IF=THEN
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HaiGo
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Hi Tim, what do you think, how far down would a reversal take us? (I just sent you a message through your website also)
TimStuyts
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@HaiGo, thank you for reaching out, I saw the email and just replied. I think that SP500 has the potential to move down by 20-30%. But let it mature before we sell and then it will most likely be a long term sell.
HaiGo
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@TimStuyts, thank you, I also just replied to your email. Have a nice day!