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Investment Recommendations May 18th

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Investment Recommendations May 18th

Introduction

This article was posted on Thursday, 16:42, UTC.

S&P 500: Short-Term Sell (Update)

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S&P 500 Futures, Daily Chart Analysis

The index hit our short-term target today in early trading, as it spiked below the line-in-the-sand support zone between the 2350 and 2355 levels. The rising long-term trend is still intact, but the current bearish momentum could mean that a deeper correction is ahead for the benchmark. The 2320 support and the 2300 level could quickly be reached, if volatility keeps on rising.

Long-term shorts are advised to take some chips of the table while lowering the stop-loss level, as a quick snapback could end the correction if political worries ease. That said, the more likely scenario is that more downside will follow, so holding on to a part of the positions makes sense. A good new stop level could be near 2380.

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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