To lock in profits we closed our short on the SPX yesterday. The reason we have done this is that we strongly believe that the S&P will make another stab at our unconfirmed trend line which was 60 points to the upside at the time of closing.
We also believe that there is a strong possibility that money will, once again get “sucked into” the Index and push it to the all time highs and create a medium term double top towards the end of October/ beginning of November.
Entering shorts at circa 4420 should be done with great care and with a tight stop as a break through this trending channel will have a good chance of going much higher before the fall.
The content on this site including products sold in our store and our posts on Twitter, Facebook, Instagram, Pinterest, Linkedin and any other site or medium are not investment advice. If you wish to trade or invest based on our analysis you should do so with great caution and consult your financial adviser. Remember never to invest or trade more than you can afford to lose.