Short on SPY - S.O.S.
Over the next few days, back and forth action is expected, in a mildly downwards direction.
Possible scalps but risky due to current sentiment.
Within 1-2 weeks look for one last, 'single-day pop' for a new weekly high, in the 210.20 region.
Taking a short position with a Stop if price closes above 211 has relatively low risk.
Strong upside movement in the next few days would weaken this idea.
Any movement above 211 will cancel this idea.
Possible scalps but risky due to current sentiment.
Within 1-2 weeks look for one last, 'single-day pop' for a new weekly high, in the 210.20 region.
Taking a short position with a Stop if price closes above 211 has relatively low risk.
Strong upside movement in the next few days would weaken this idea.
Any movement above 211 will cancel this idea.
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