We’ve had an interesting day so far on the S&P 500, where the bears are attempting to put the market back down below 2100 and below key support on the 30 minute chart at 2104.
For the second time in three days the 5 day and 10 day moving average has been lost.
Overall none of this bodes well for the bulls, but we have seen somewhat of a bounce off of the lows that suggests the dip buyers are still in the game. So it is imperative to wait for a daily price confirmation where SPX closes below key support levels to suggest that the price action is starting to favor the bears. When that happens, the list below is really going to come in handy for you.
Here’s the bearish list of trade setups:
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