TVC:SPX INDEX:SPX Bearish Bat
pattern setup plus waiting for a break down on the uptrend. BTO 2390P or 2395P on Friday, March 17th or Monday, March 20th. It's pretty close to an RSI
BAMM setup, albeit some market noise in the middle RSI
section. Wait for RSI
to exceed 70 and then drop below it for a signal. Enter when SPX
is about 2395. Stop loss when SPX
exceeds 2401 (current 52w high at this point). Profit point all depends how reactive the price action is. If there is a quick/sharp breakdown from the uptrend, the 0.618/0.786/0.886/1.0 retracement Fibs of the uptrend or larger may become a reality. If only a gentle break, then 0.382 and 0.50 fibs become your profit targets.