Daily, that is. You can't trade this unless you are trading on a longer time frame.
Big Picture: I have a SELL on this market on a long term basis. (monthly)
I think we see SPX 1800 and lower. Same forecast as I had at the 1st of the year.
I THINK WE ARE GONNA GET A MAJOR RED MONTHLY CANDLE WITHIN THE NEXT 3 MONTHS.
It could be May, June, July or all of the above. I donno when it starts, maybe it's already started.
Last time I was bearish in an action area was April 26/27 area shorts. I remained bearish for about a week, but after that I haven't been able to draw a bead on this thing in order to initiate.
I'm taking a look at those SPX weekly candles. I've seen that setup on shorter timeframes. I've seen it go CHOP, CHOP, CHOP down a little candle after candle. Every candle looks like a buy, but its CHOP, CHOP, CHOP downward. Very hard to trade these. Must have a strong hand.
Looking for a clue to be able to get short for the big move, but I don't have the answers right now.