Anyone shorting SPX?

mchongmy
2022-07-19

Hi guys!

Anyone thinking of shorting $S&P 500(.SPX)$ ?

On the daily timeframe, with prices moving in a descending trend channel, we have a bearish bias that price will continue to drop form the entry at 3904.920 at the overlap resistance in line with the 50% fibonacci retracement to the take profit at 3646.730 at the swing low in line with the 61.8% fibonacci projection.

Alternatively, price may break through the resistance and rise to the stop loss at 4086.796 at the pullback resistance.

Take profit: 3646.730 [Sly] 

Stop loss: 4086.796[Spurting] 

Entry: 3904.920[Victory] 

Let me know what you think!

If you wish to leverage on this, consider using DLCs:

$S&P 5xLongSG250228A(CYAW.SI)$ 

$S&P 5xShortSG250228A(CZEW.SI)$ 

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • n86887
    2022-07-19
    n86887
    thanks for sharing
  • stkwok
    2022-07-19
    stkwok
    Like
  • YouHeng
    2022-07-19
    YouHeng
    👍👍👍
  • Toshies
    2022-07-19
    Toshies
    hurmm
  • Csboi
    2022-07-19
    Csboi
    Ok
  • oloolo
    2022-07-19
    oloolo
    Thanks
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