Seasonality and overbought... Professionals shorting and non professionals buying. Insiders selling. Forex giving strong bearish signals... Complacency...
I don´t know from this point if S&P500 can trade above 1700... What i am seeing is that even the bearish blogs are expecting a rise above 1700 and this is not good... I exited my long positions and start shorting. My forex trades (long JPY and USD against some currencies are working).
Bellow is a chart from one of the worst indexes IBEX30, where you can see a good spot to short.
Equity Markets Struggle to Hold onto "Go" trend as Industrials Try to Lead
| Apr 15 2024
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Good morning and welcome to this week's Flight Path. The equity "Go" trend
continued this week but we saw some weakness as GoNoGo Trend paints a
string of ...
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