Tag Archive S&P 500

Shorting the S&P 500 for Profit




While the Index was between zones we got a position shorting the S&P 500 for Profit.

We could see on the hourly chart the had been a struggle between the Bulls and the Bears recently, an area of resistance was showing at around the 2680 price with support at around 2660.

We knew it won’t be long before a potential breakout, as the month of April had been strong for stocks in the US and so the S&P 500 could look set to cover its previous losses for the year.

The Bulls could be coming into positions of strength and taking the index higher.

Wanting to close out our short position, and settle for £62.60 profit.

S&P 500

(Our trading and image was done using an account with UK based broker IG)

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