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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 689.17+0.2%Dec 11 4:00 PM EST
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To: GROUND ZERO™ who wrote (90393)3/8/2017 8:49:13 PM
From: Underexposed3 Recommendations

Recommended By
GROUND ZERO™
Hawkmoon
Katelew

  Read Replies (3) of 220052
 
First I don't know much about Futures trading and I only have a vague idea of how to short a stock but I do follow the SPX off and on and I know the sentiment is that the index has topped out and destined to fall. I suspect that is more emotional than anything else.... I don't see a dramatic fall at this point.



What I do see is a index in consolidation after a pretty decent rise. It is acting pretty much the same as the last consolidation on Dec 28. During a consolidation you will find the values gravitate to the 20 daySMA and once it happens it will wander around this average until the bollie get tight and then it will take off in a breakout up or down and you can easily predict the direction from indicators.

As you can see, the BBWidth is not near its level where breakouts happen... that would be somewhere between a value of 2 - 2.5 and that would take about 3-5 days to happen...the MACD and Slow Sto are acting normally However if they stay negative when the BBwidth sharply reverses direction.... well that would be bearish then.

I don't know what constitutes a good short... I suppose you want to see it slide and not go sideways (which is what I expect to see...perhaps with a slight negative or positive slope now that it has reached the 20daySMA)

Another interesting scenario to watch.
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