Continued downside for equities...

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General global tension along with a slowdown will most likely cause equities to correct much further down... not expecting a recession anytime soon but surely a large correction is needed given the current global climate... Technicals are also lining up as a possible head and shoulders is beginning to form... The most recent move down could also be considered an ABC corrective pattern... ending at the green line I placed on the chart... would not be surprised by a relief rally pushing up towards 2990... near that level I will consider taking a short position...

٢٥ سبتمبر ٢٠١٩

تم فتح الصفقة

Entered a short right before market close, stop is at all time highs, first target is green line

٢٦ سبتمبر ٢٠١٩

ملاحظة

Recent move looks impulsive to me, meaning more momentum downwards. BTW guys, I encourage you to follow me on tradingview if you're getting value out of my ideas :)