The SPX 500 Index has hit our “question mark zone” and is now around a key fib retracement level which bisects our confirmed trend line.
This is very important as a strong move upwards will likely see a new high and a failure to recapture the trend line should take us to a new low where we could look for a long entry point.
A “riskier than usual short” is certainly possible from this position providing the stop is kept tight enough to make the risk/ reward ratio worthwhile.
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