Short

SPX lay of the land favours shorts

By PontusTrader

Updated

Price in a small bull flag - bigger resistance right above.

I'd be building a short position here if I had money, instead i'll just try to scalp.

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Still inside smaller bear flag of May 6. Much closer to a top then to a bottom.

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30 m view of the bear flag.

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My VIX calls printing hard.

4 hour view of ES.

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15 min view of the bearflag that broke hard for posterity.

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Potential for a big break here on pennant / flag.

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Big bust. Been shorting in and out all morning.

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Big bull trap setting up here on the pennant support breakdown via a pullback retest rejection.

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Another point of view - still bearish. I cannot shake off the bearishness.

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