SPX - Bearish Until Proven Bullish
SPX has closed below 40EMA. Next stop @ 100/200 EMA at 2020.
We may see a repeat of Nov & Dec 2015.
Trading Plan:
1) Short now and see if price gets supported by the 100/200EMA confluence zone. The reason for shorting is because we have turned around and it's usually the best to stay with the trend.
2) If 1) happens, wait and see if price breaks above 2100 or the upper resistance line.
3) Unless SPX breaks 2100+ remain bearish.
We may see a repeat of Nov & Dec 2015.
Trading Plan:
1) Short now and see if price gets supported by the 100/200EMA confluence zone. The reason for shorting is because we have turned around and it's usually the best to stay with the trend.
2) If 1) happens, wait and see if price breaks above 2100 or the upper resistance line.
3) Unless SPX breaks 2100+ remain bearish.
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