Traffic is understandably light this week here on Slope, so I’m going to do a lazy post: here is a trio of interesting charts to consider for shorting.
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Icing The Cake
Over the last four weeks, since SPX broke back below the 5 DMA after the (all time longest) run over it from the 1820 low, I’ve been using the stats from the largest previous runs to call the likely moves afterwards. We are almost at the end of those stats now, with the last part being to make a new high. That’s already been done on globex overnight but needs to be done in regular trading hours as well.
After that’s done I’d mention that the shortest run over the 5 DMA from a significant low this year was eight days, and we are currently on day five. By day eight I’d expect the 5 DMA to be well over 2060. SPX daily 5 DMA chart:
