SPY is definitely in an uptrend. It will continue moving higher to 290 once it's breaks out of 280.
A lot of traders think 280 is where the market will correct and head lower, so they are taking short positions. Markets are never that obvious and will do the opposite of what everyone is thinking.
A lot of traders think 280 is where the market will correct and head lower, so they are taking short positions. Markets are never that obvious and will do the opposite of what everyone is thinking.