Short S&P 500

The S&P 500 looks to be a promising short entry at 2429.95 with a target price at 2420 and a
stop loss at 2433. Yesterday, was a major reversal day that should see follow-through.

Todays strength seems to be mainly about quarterly rebalancing and an oversold bounce
following yesterdays selloff. The S&P 500 is currently at the 20 hourly moving average which is
a good entry point on the short side.

Essentially if the market is in a downtrend, the rally which began yesterday should not spend
much time above its 20 hourly moving average.