SPX500 Analysis dated 10 Apr 16

SPX500 Daily Chart
SPX500 Daily Chart

Comments: Price showing signs of rejection from daily supply and broken daily uptrendline. Best if price can move further downwards to break 2020 level labelled as (1) before retracing to (2) for potential short. It would be entry at early formation of right shoulder for H&S. At the same point, selling a call spread for 2080 to 2100 may be viable.

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