VF oppinion: S&P 500

S & P 500: downward movement and correction of short, which ended with a negative formation “Hanging man” raising the likelihood of a new downtrend after the correction.

The indicators are in negative zone also for short

Still no higher top and the trend is downward: lower top deeper bottom

Compulsory stop slightly above the previous higher top 1949.50

Possible double top at 1941.75

Sentiment: volatility remains in the market such caution can lead to new bearish momentum.

Stefan D. Angelov – Head of Stocks Trading

 Varchev Traders

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