If stocks were truly bullish, then the Nasdaq and markets in Europe hadn't taken any pause in rallying strongly higher.
Short entry: 2475-2480
Stop loss: 2490
Minimum target 2455
Extreme target: 2425
Risk: 10-15
Reward: 25-30 (up to 55 with the extreme target)
News:
Short entry: 2475-2480
Stop loss: 2490
Minimum target 2455
Extreme target: 2425
Risk: 10-15
Reward: 25-30 (up to 55 with the extreme target)
News:
- Trump Signs Russia Sanctions Bill
- Trump Set To Retaliate To China's "Unfair Trade Practices"
- 30Y Yields Slide After Treasury Refunding Does Not Mention Ultra-Longs
- Manufacturing Loses Most Jobs Since Election As ADP Employment Growth Weakens
- Carmageddon: "Ford" And "GM" Sales Tank Despite Record July Incentive Spending
- Schwab: "New Trading Accounts Are At Levels We Have Not Seen Since The Dot Com Bubble" As Millennials Rush Into Stocks
거래청산: 타겟 닿음:
Success: Short target reached!
I wrote my last comment while the S&P 500 made the fake-out move higher on August 8. The same day I also mentioned that it's "not enough yet though" to change my bearish view and then hours later the S&P 500 finally started to turn very sharply lower.
Today on August 10 the S&P 500 fell 10 points below my minimum short target, which I had set to 2455 on August 2. The low on August 10 so far was 2444.91
I recommend to close most short positions today, because the move lower was very fast and bulls can change the trend direction soon in their favor due to their recent strength. The S&P 500 is currently trading at 2449. For those who stay short, let's see if my extreme short target at 2425 also gets reached on Friday before the trading week ends.
I wrote my last comment while the S&P 500 made the fake-out move higher on August 8. The same day I also mentioned that it's "not enough yet though" to change my bearish view and then hours later the S&P 500 finally started to turn very sharply lower.
Today on August 10 the S&P 500 fell 10 points below my minimum short target, which I had set to 2455 on August 2. The low on August 10 so far was 2444.91
I recommend to close most short positions today, because the move lower was very fast and bulls can change the trend direction soon in their favor due to their recent strength. The S&P 500 is currently trading at 2449. For those who stay short, let's see if my extreme short target at 2425 also gets reached on Friday before the trading week ends.
It's not enough yet though for me to change my opinion to the parabolic bull mega-rally scenario for the S&P 500, though. Which would look similar strong as what happened during November-December 2016.