I believe there is a turning point in the trend this week. That's why I doubled down on my outlook.
Short entry: 2822 (ideally 2825)
Stop loss: 2836
It's getting harder and harder to forecast any turning points. Which is why I raise my stop loss from 2836 to 2843.5
I did a lot of analysis today and changed my mind that the rally could actually sustain to go much higher to at least 2960 (after that potential pullback).
At least I was emotionally prepared to get stopped out today after Tuesday didn't trade weak enough to close the short at break even, that's why I shared this bullish chart yesterday:
Maybe Wednesday is going to be the peak for the week and I was just two days to early with starting to go short, but moving up the stop loss higher and higher every day is a losers game. I was wrong and moving the stop loss up by 7 points was already a mistake in hindsight.
After further analysis of the S&P 500 and the breakout of a trend channel to the upside (the strong move yesterday to beyond 2826 to 2833 and today to above 2840), which had occurred AFTER I had shared the bearish outlook. I now lean somewhat more optimistic that any pullback won't be as severe and strong as I had thought yesterday, when my idea was that 2825-2826 to maximum 2834 could be the peak for the week. But I was proven wrong. The market could be far more bullish long-term.