Hi guys!
Anyone thinking of shorting $S&P 500 Index(.SPX.US)$?
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 a...