Nickonomics

Everybody's Gone Shortin' - Shortin' U.S.A.

Short
SP:SPX   S&P 500 Index
In this post I would like to put together some previous stock market calls (still valid), as well as add two more promising shorts. It's been a rough week for US stocks culminating in a clear break of the Head&Shoulders' neckline at 2045. This kind of pattern is usually referred to as "Complex H&S top", because there are multiple peaks and its "head" is a H&S pattern itself. The traditional target is set in the 1945 area, though we expect a move of greater magnitude. There is a more traditional H&S in LinkedIn. It calls for a sizable move to the downside. Another bearish pattern is a Rising Wedge, or Ending Diagonal, in Bank of America. The first target here is $15 area, which is some 10% from here.

I'm still positioned according to previously published ideas:
Baidu IBM Intel and Procter&Gamble: All of them are currently profitable.
Best of luck, mates

Telegram: t.me/NixTrading
Service: NixService.net
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.