Spooz should meander between 1840-1600 .. If the neckline breaks there is no support till 1600. If things don't improve during this year than 1600 breaks and we head to 2008 lows.
ES Journal - 2016
- Thread starter Buy1Sell2
- Start date
I've posted my opinion last night in the Spot the Bear thread, basically China is within 10% of its 200 SMA weekly basis, that level coincides with a 50% retracement from it's ATH 5200. Therefore, all indexes are expected to continue sliding until China gets there, whatever happens then is more of a guess at this stage IMHO.
The bad loans in energy sector should ripple through the economy. Some banks are more exposed than others. Energy and financials should weigh down SP500. Consumer is spending on essentials, with essentials left to be defined by the consumer.
There is a trend where some households are canceling cable subscription which amounts to 100 plus a month for NFLX subscription (sub 15 dollars per month). Let NFLX correct with the broader market and buy when it bases out.
+1
Did you ever end up exiting this position? I see that neither stop nor target was hit. Are you worried about an opening gap?