SPY - Short to around 2800, single day

21 พ.ค. 2020

Hi guys - I've been wrong so far about the longer term trend with my shorts. Right now, I'm trading this curved channel that we're in. Just bought a one month option on SPY for a day trade, hopefully close tomorrow around the target zone of 2820. We are bouncing between 2800 to 2960. Looks like we are headed back down to touch the line, before bouncing back up. It's encouraging to see the 4H MACD in a bearish crossover. Hopefully this lasts a full 24 hours. Take precaution as it could happen overnight and could turnaround once it hits the target overnight as well. Not trading advice, just a move I am making. Good luck and happy trading.