Oct 17, 2016 - (Live Market Coverage) - Market close - SP 500 ( and Big Bear is saying it's not that bearish yet as it may looks )

Hi,

we just close the day on New York Stock Exchange.

I can imagine all those comments about trendline break etc. and believe me I'm one of the big bears around :) 

When I was born 40+ years ago, * short * was my first word ( JOKE ! :) )

Most probably you are listening CNBC, Bloomberg or other media right now.

Are they already talking about upcoming crash ?

Again, I'm a Big Bear but not blind one. Checking current SP 500 weekly chart I can imagine that bears are going to be trapped around Thursday or Friday and that one more rally ( maybe even big rally is possible ).

Ok, just an explanation: what I'm trying to tell you is don't try to trade this breakdown as your next Big Short, stay focus, use proper MM and you'll be fine even if market decide to go against you !

SP 500 weekly chart:

Please let us know should you have any additional questions or you would like to discuss other crosses as well. We are here to help you, just contact us at: landoftradingATgmailDOTcom.

Happy Trading
Mr Price Action


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