That's a long way down!
SPY is still trading at the top of the daily megaphone pattern and looking VERY weak. Lots of dojis at the top as the buying pressure is leaving and people are taking profits on an overbought market.
If the 410.50 support level doesn't hold, expect BIG moves downward.
Be careful out there and make sure you have a plan if the market drops.
I personally am playing SPY puts for the month and sitting on capital to buy dips.
Safe trading and let me know if you agree with my analysis!
If the 410.50 support level doesn't hold, expect BIG moves downward.
Be careful out there and make sure you have a plan if the market drops.
I personally am playing SPY puts for the month and sitting on capital to buy dips.
Safe trading and let me know if you agree with my analysis!
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