FxWirePro Call Review: S&P500’s recovery looks like ‘dead cat bounce’; maintain short positions

After declining to 2340 area before Christmas (SPX500- CFD of S&P500), the U.S. benchmark stock index S&P500 has bounced back since then and currently trading around 2500 area (SPX500- CFD of S&P500). However, our calculations suggest that the move is more of a dead cat bounce rather than a genuine reversal in trend.

We would like to urge our readers to maintain short positions on the index as we, so far, remain confident that the index would reach the anticipated target of 2250-2280 area, https://www.econotimes.com/FxWirePro-Sell-SP500-targeting-2275-in-short-term-1470823

However, there are few events that might change the trajectory of the index going ahead, at least on a temporary basis and the most important of them are news from U.S. China trade negotiations, as officials from two sides are set to get back for face to face talks later this week or next. The ongoing government shutdown battle between the White House and Democrats-controlled House of Representatives would also continue to influence the index.