This is your 3rd BIG Selling Opportunity to get out of the Market…

This is your 3rd BIG Selling Opportunity to get out of the Market…
December 03 21:46 2018 Print This Article

Since the End of September (When we sold), this is the 3rd Yuge selling opportunity in this market. Whether you are looking to short or whether you are looking to cut down on some risk you have been riding since the 2016 election, this is THE TIME to do it. SPX has ripped off the lows and is now testing MAJOR resistance at 2820. This level is a very big level that has held on both of the bounces since September. Look at the chart below. SPX has been unable to take back 2820 at all.

SPX

SPX is right in between two major levels, 2775 is the 200 day MA and 2820 is solid resistance that is standing in the way of the bulls. Snapbacks are a given when panic sets in, how far do they go and DO THEY HOLD is what matters. SPX has closed above the 200 day after the massive reversal last week and 2820 is in sight.

 

Personally I do not see SPX taking this level back here and I see the market rolling over in the intermediate term and coming back down. Will I switch gears if 2820 is not a ceiling? 100% because the only side I care about is the right side. Flat 200 day MA’s are very hard to get long or short usually (harder to be long IMO when the trend was up before) and they usually chew people up. This is going to be an important few days and whether or not the bulls can hold the gains, or did the big boys sell the rip.

I am in the camp of the latter.

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heyimsnuffles
heyimsnuffles

Just Climbing the Wall of Worry and Picking the Right Time to Get out of the Way. I am a Nuclear Engineer who quit and has studied global and crypto markets for almost a decade.

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