Futures/Index/Ichimoku: S&P Mini-Futures/SPX: 7-16-07: Trade Entry

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  • Futures/Index/Ichimoku: S&P Mini-Futures/SPX: 7-16-07: Trade Entry

According to my charts, we should be beginning a little bearish run.
Here is the SPX chart. Notice, how it hit our Gann line Friday and bounced right off it. If we break this Gann line then we are going to go higher. Therefore, I will use this Gann line as my “tight” stop (with buffer).
The seasonal chart gives us 7/14 (Sat) as a possible turn date. This is +-2 days from that date.
Here is the Harmonic Analyzer chart for HA. We hit one of the Fib values on Fib. However, the next Fib value is very close, in fact, just over 14000.
Since I am an aggressive trader, I am going to short the SPX/SPY with a very tight stop loss. Since we are going against the market direction right now, I not going to do a lot of positions due to the risk factor.
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