Some months ago I notice a strong Fibonacci pattern on the SPX500 that suggested there may be a top at 2486.
Its difficult to predict exactly where this top is so it could be slightly higher.
It will be interesting to see if the pattern conforms to the Fibonacci template as it has so far.
The fundamentals suggest that this level will be breached and 2500 will be targeted but we may see a move south before this happens.
If 2500 is taken out then this BULL run will continue.
I've a low risk SHORT this market from 2480 with a STOP at 2500.
Its difficult to predict exactly where this top is so it could be slightly higher.
It will be interesting to see if the pattern conforms to the Fibonacci template as it has so far.
The fundamentals suggest that this level will be breached and 2500 will be targeted but we may see a move south before this happens.
If 2500 is taken out then this BULL run will continue.
I've a low risk SHORT this market from 2480 with a STOP at 2500.