VF oppinion: S&P 500



S & P 500 negative trend on 4 hour chart, lower peaks, deeper bottom.

Correction of the last short-term movement to levels of diagonal resistance and 61.8% on Fibo.

Testing resistance bar is a pin bar in descending medium average movement and well-defined short-term upward trend before it. Last 2 bars are small, like "rotating peaks" which reinforces the likelihood of a downgrade. We do not know where will the price go, it is clear that we have the formation of a possible short, which can be traded, the stop is close, profit risk ratio is more than 3 *

The indicators are still bullish formation, but they lag currently not trade movement and the reversal of the correction in negative movement.

In order to minimize risk and lower the stop is better to go in 1954.

Signal to sell may have of RSI, when you go below 50

Sentiment: caution of markets continues, it is possible that the downward movement may not have finished.

Stefan D. Angelov - Head of Stocks Trading

 Varchev Traders
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