Currently: Short Looking to: Cover @ 2,462.50
As of 9/16/19 @ 12:06am EST: 2,992.12
LAST WEEK: We suggested selling / shorting at 2,986.25 with stops above 3,009.25 and with a target of 2,487.75.
UPDATE: Well, off of last week’s suggestions, short positions should have been stopped out as of Thursday’s close. However, our bearishness has yet to be extinguished.
The weekly chart shows resistance coming in at 3,024 – which was already tested Friday. Below that and there’s still faint hope for the bears to regain control. Above that, and all bearish bets should be covered. Bears got an hourly close below 3000 – which was a good first step.
We would be willing to re-short near 3,000 with stops honored on a weekly close above 3,024 and with a downside target of 2,462.50 for covering purposes.
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