Two days ago, in the SPX Elliott Wave blog video (tradinglounge.com blog), our TradingLounge members and non-members in this case, that there was going to be a turn down in the SP500 (SPX) and we could demonstrate using Elliott Wave and Trading Levels concept how we could look to short the SP500 /SPX
Trading the SPX market index’s, we use CFDs (Contracts for Difference) The CFD is a great product for trading long or short and the Indices have high leverage component.
The Elliott Wave theory and the TradingLevels concept were very helpful in seeing a variety of different trade set-ups. (I suggest watching the previous Video below)
The smallest CFD contract you can get is a Mini Contract, even the small possible contract e.g. 1 Mini Contact on this current short trade would have netted you around $2000
SP500 Daily Chart (Chart 1)
Elliott Wave Count and Analysis
Intermediate Wave (3) was called in two days ago and Wave (4) the 38.2% retracement level is at 2300.
S&P500 CFD Short Trade