Downtrend in S&P 500: Won’t Be Long Now

(click to enlarge)

There has been a trend reversal in the S&P 500 an the trend is DOWN.

You can see the chart without the lines at FutureSource. Any rally up to the resistance line at 1180 basis the June contract is a good entry to go short.

Hate charts? Good for you. Give me three fundamental reasons why anyone would want to be long in this market.

I’m not the only bear either. Someone much smarter than me is 100% cash right now.

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