A Look at S&P 500 over all trend for 2019.

٩ يناير ٢٠١٩

So we are witnessing a short term oversold bounce at the moment, and looking for next resistance point, my moneys on the daily TF showing this, I would expect the 4hr to be oversold next with a correction then another move or two up till the daily is oversold then resume the trend bearish on the weekly/monthly time frames. Expected upside is between 2-5% before moving downward.

I am and would not be taking up a position here until an indication of the peak of this bounce, I would only be playing this bearish this year.