Short

S&P500: Selling aimed at the 4H MA200

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The S&P500 index remains neutral on the 4H time-frame (RSI = 54.250, MACD = 4.390, ADX = 29.647) and without any technical buying pressure, especially following the higher than expected CPI report today, may be have made a Double Top similar to December 13th. If the 4,200 Resistance breaks, we will buy and TP = 4,300 (under 4,330 August 16th High). Until then, we will follow the technical pressure as suggested by the previous Double Top and sell aiming at the 4H MA200 (TP = 4,020).

Consider a full daily close below the 4H MA200 a sell trigger aiming at the bottom of the long term Channel Up (TP = 3,850). Then we can buy relatively safely again for the long term (TP = 4,240).



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