Indice S&P 500

leaning more toward a short but market very unpredictable

110
good morning traders. so we ended the day, wednesday, as what it appears to be a bearish engulfing pattern. to further confirm this, today, we need to see another drop and sell-off. now the future indices looks like it will be up but seeing the nature of the market I believe it will be up in the beginning of the trading day but will not support and will end up dropping. however, if this does not happen it will confirm a retracement of previous support and will only continue going up from here. however this week ends, will determine the direction of where the market will go until the end of the year. lastly, i will explain my reasons why i am leaning more toward a bearish scenario. Yesterday when i looked at stocks and markets to go long on they all appeared to be at an overbought level. this is scary as we might see a massive sell-off pretty soon if it continues to go up without the volume to justify the upward trend. be cautious in your decisions this years market has been crazy enough as it is.

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