S&P 500 Index Dead Cat Bounce Short

S&P 500SP

Description

⋅ Oct 6, 2019 3:56 PM

Take a look at the SPX, a bounce is taking place but I don't think it will last long.

This bounce can either start following right away tomorrow, Monday or hit the ATH resistance once more and drop again...

We will see how it develops.

Sell the bounce.

Namaste.

THIS IS NOT FINANCIAL ADVICE.
ALL THE INFORMATION SHARED HERE IS FOR LEARNING AND ENTERTAINMENT PURPOSES ONLY.

Comments

DaddySawbucks

⋅ Oct 6, 2019 6:44 PM

Yep Bull trap IMO. Target 2720-2760, ty 4 post!

AlanSantana

⋅ Oct 6, 2019 6:54 PM

@DaddySawbucks, My pleasure.

Thanks for the comment. :)

Namaste.

DaddySawbucks

⋅ Oct 7, 2019 7:26 PM

@alanmasters, Tyvm for posting. We got Death Cross in DJT and RUT. Rejected from 0.618 Fibo retrace on this dead cat rally. Pretty strong Bear signals.

savtakken

⋅ Oct 28, 2019 1:56 PM

Annnd we hit the ATH :)

Ecua_Trader

⋅ Oct 11, 2019 2:25 PM

Haha. Another dead trader lol. Keep on dumping it. You will be right one day. Poor guy

savtakken

⋅ Oct 7, 2019 5:02 AM

SPX is going to ATH...

BlakeSaraDad

⋅ Oct 6, 2019 11:56 PM

I don't think I would draw a trendline connecting those two points. There is a reason that the price pattern looks very much like a head and shoulders, and I would be thinking about connecting the lows forming the neckline. But what about the rising trend line?

Given that any two points can connect a line, after drawing the neckline, which of its points forming it should be connected to the low from December?

DaddySawbucks

⋅ Oct 7, 2019 2:18 AM

@BlakeSaraDad, H&S may be illusionary but the rising wedge is clear wherever u draw it, it's nearing the break point. Only time will tell but likely very soon IMO.

AlanSantana

⋅ Oct 7, 2019 8:37 PM

@DaddySawbucks, It's going to get ugly.

tonywantsacookie

⋅ Oct 6, 2019 5:13 PM

I am following the TSX and it did the same thing. On the monthly it looks like a bulll trap,yet on the weekly it reflected off the weekly trend. Thoughts?