If you've been looking for an opportunity to enter S&P Short...

If you've been looking for an opportunity to hop on the S&P short train, here you are. We've failed to break the ~289 resistance point for two days now. And after failing yesterday, the market opened today significantly lower. We've tried again in this morning's trading session to break 289 - even with more volume this time, bulls still failed.

Now volume is increasing in the bearish direction. Down is more likely from here. I've charted entry points, stop-loss, and shortterm profit target. Wait for the afternoon's trading session to begin (~1:30pm EST) to gauge whether bulls will attempt breaking 489 one more time. If bullish momentum is weak or nonexistent, I'll happily add to my shorts.

Happy trading.

Transaction en cours:

Last week, I added more to my short as planned. This week's market open was significantly lower than where we closed on Friday, which is definitely a bearish sign. Let's see how this week plays out. I'm hoping to reach my short-term profit target at about $280 before end of week.

If I see two clear bullish days in a row, I will book my profits and look to get back in the trade when bullish momentum dies.