Idea: Buy the dips after the current crash. A gap closing rally until March 2016 is in the cards, similar strong as in October 2015 possible (due to a short squeeze from TV media driven panic bottom shorters and a fake rally driven by large investors trying to close underwater long positions at break even).
Entry: 2nd or 3rd week of January 2016, wherever the current selling finds a temporary bottom Long target: 2015-2020 points Lowest stop loss before a free fall down: 1865 points
P.S. I have a short position since Draghi failed to excite the markets in December 2015, that's where the current downtrend accelerated:
The downtrend started here:
And made the key decision to stay in the downtrend channel here
Followed by the downtrend continuation here:
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The next FED meeting is in about two weeks and the S&P 500 rallied as envisioned a month ago higher. In fact the S&P 500 futures rallied on the first day of March up to 1980 points. Which is even higher than the DeMark yearly pivot point which is around 1975-1976 points.
If this scenario further plays out there is a risk of a sharp decline soon in the cards. Otherwise the highest resistance is the classic traditional measured yearly pivot point at 2016 points: