Bearish S&P500

Note the above chart.

Looking at the red lines in particular. They have recently turned net short during mid – late May.

For me this indicates a bearish market, We have seen a sharp move up from 2040 to the current price, but funds have shorted into this price move, as identified by the blue line on the lowest chart.

I’d have a stop above 2110 as an invalidation point with an initial target of 1980, whilst managing the trade if we were to look lower.

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