See commentary on chart the conditions for a short.
Bullish signal was confirmed. Entered at open. Let's see how the bulls deal with the bears on this rebound aiming to at least test all time highs.
Bull signal received. Exited short position at the open. Waiting for signal confirmation for a long position within the next few days.
Long and Short signals provided by my proprietary MESS signal for the S&P500. Provided with historical signals.
Three counts with aggressive and conservative targets. Count 1 conservative target already filled, aggressive count is almost filled. If the bearish trend continues beyond Count 1, expect next level of support in the range of Count 2 aggressive and conservative targets.
Continued bullish move if strong close above 1.35560
Continued move higher if strong close above 1.33950
Look for short with a strong close below 1.14790
Watch for break higher
Will go long if price manage to close above 1.19600.