The "S&P 500" finally made the higher high in the overbought region to potentially trap the last Summer bulls at the all-time-highs. Risk/reward is looking attractive again. Currently the "S&P 500" is at 2179.9 points after the Monday close of August 8, 2016.
Short entry: 2180
1. Target: 2125
2. Target: 2085
Last all-time high: 2187.1
Stop loss: 2188
Risk: 8 points to 2188 from 2180
Reward. 55 points to 2125, 95 points to 2085
Screenshot of the current weekly candle, after one trading day of the week has closed:
Short entry: 2180
1. Target: 2125
2. Target: 2085
Last all-time high: 2187.1
Stop loss: 2188
Risk: 8 points to 2188 from 2180
Reward. 55 points to 2125, 95 points to 2085
Screenshot of the current weekly candle, after one trading day of the week has closed:
