$SPY oversold??
SPY broke the previous support of 457 approaching below 430. in all time frame SPY is really bearish. but the RSI on 1hr and 4hr chart shows that its oversold.oversold level doesn't mean it will bounce there. But the probability of short bounce is there. overall it seems the market is trying to deplete itself at the moment.
most of the stocks that is rallying from this market are the retailers and energy. basically there is probability that the market is going in cyclical rotation but I could be wrong..
Day trade or scalp target play: 01/24/22
Buy call above 444.44 sell at 450.93
Buy puts below 434.60 sell at 431.22
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