S&P 500Penjualan
SPX500 is heading towards 2750 over the short term
SPX500 short term wave structure is looking encouraging for bears since 3230 resistance remains intact. The larger degree potential wave counts are as follows: SPX500 drop from 3400 through 2200 was Wave (1) and the subsequent counter trend rally which terminated around 3230 was Wave (2). If the above hold true, SPX500 should stay below 3230 and continue pushing lower as Wave (3) unfolds. Furthermore, the fractal nature of markets is at full display as drop from 3230 through 2965 was also in 5 waves but at a lower degree, Wave 1. The subsequent corrective rally towards 3180 was Wave 2. If these counts are correct, SPX500 is heading towards 2750 in the short term.
Remain short, stop @ 3300, target @ 2750
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 3300, target @ 2750
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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