Wow ! first RED day I've really seen the last weeks, now when Setpember is over we can begin to tank and we are just beginning here......
MACD is about to get a negative crossover and we are about to break all uptrendlines here, so if we do so, it can go fast down. I am still VERY bearish and my target for SPX is 942 this month.
Its a big BEAR flag we are trading in where 1060 is the support in the bear flag. We should most likely take out the 1060, possible little bounce before and then tank further, and then we have a big HS pattern with support 1040 and when we take out this one , see ya at 942. Economy still sucks and it will get worse near future, we will get more austerity and problems with EU Crisis. Wont be surprised if we see some more terror alerts or terror events.
But all in all, still HEAVY short and staying short , thats the way to make the big $$ for now. Have a nice day everyone.
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