tacosaurus

SPX possible inverse head and shoulders projects to 4260-4300

Long
SP:SPX   S&P 500 Index
I dont see us getting much over 4300 on any sort of relief, but the 4070-4110 gap is bound to fill very soon. combined with my short term bearish outlook on uup, I think there is a good chance we could get a push to fill in some of the gaps above. VIX exp expiration wed morning might start with some hedge unwinding to give some oomph for a short term bear rally to this 4300 level. medium term (1 month) I still am bearish but I think we have a good chance at a bear market rally here.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.