SPX
Due to the fear spread by the media and all the uncertainty with the US -President impeachment, I expect in the short-term a downwards movement in the
SPX
. All this added to the 1.43 Fibonacci level and the overbought RSI is enough for me to think about a short correction, before it continues to go up to at least the 1.68 Fibonacci extension.
Trade active
Comment:
As expected it is coming down nicely and I also think on Monday the markets are going to open a bit lower overall.
Trade closed: target reached:
The trade worked like a charm. It opened lower on Monday and it reached our target. Nice week to everyone!