SPX500 has been bullish inside a rising wedge lasr month and we have since then rejected its major upper trendline and broken to the downside. This looks in my opinion bearish in general, however waiting for a retracement at the major trendline at around 4000 points would be a wise move...
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rejection on major trendline. I am short ;)
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This idea is not valid anymore. Trendline is now a support.