beausti

Sell then Buy then SLLL SPX (4H)

OANDA:SPX500USD   S&P 500 Index
Sell spx to 2930, then buy to 3700. Price action indicates a desire to correct to the zone but overall it is bullish. The money printing by the "genius" PhD guys in the fed is the reason for the rally. The price does NOT match the value meaning the indexes are overvalued. Im seeing a "3 trend touch "forming in a channel, but on the bottom the 3rd tough doesn't touch the bottom of the trend line. Typically when this happens its a set up to dump off once it reaches that point because many are going to expect that 3rd touch and then buy but then the market decides to sell off even harder . After the buy to 3700 look to short to 1850, after a bear price action, im thinking an engulfing candle, shows up on a larger more respected time frame. A 50% correction would be ideal when it comes to looking back at history but we will see.
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