SPY does a rising wedge suggest a reversal? SHORT

2023年12月20日

SPY on a 30 minute chart shows a rising wedge over the past week. Price is now under a nearly

flat upper trendline of resistance while the support trendline is rising. The dual TF RSI

indicator shows strength about 70 while the zero lag MACD shows a K /D line cross.

Because of this I believe, SPY may retrace to 468 or the level of the Fib 0.5. Since SPY is a high

volume high liquidity slow spread instrument I see a buying a put option or s short swing trade

short on the shares as strong consideration for the next trading day if the breakdown is

confirmed.

2023年12月21日

交易進行

SPY rolled over and dropped nearly to the target retracement. Looking for more out

of the puts expiring on December and will likely close those but keep the Demeber

29th ( still out of the money) going over the upcoming holiday weekend.

2024年4月23日

交易進行

See also updated idea linked here

2024年7月20日

交易進行

SPY correcting and likely to fall further