SPDR S&P 500 ETF TRUSTUpdated Low 400s by end of week
Spy will be pulling back to test support in the 396-401 range - point target 400 by 4/21/2023
Can happen as fast as Wednesday 4/19 but I'm playing 4/28 407 puts to give it enough time. Needs to breakdown near term support in the 405-407 range but ultimately it needs to test 400 before making next leg up.
Will re-eval after 400 but likely will be an opportunity to swing long to 420s
Aggressive entry on short is right now while its still in 411s, conservative entry is a break below 409.5. Note this is likely just a pullback and not a major leg down.
Can happen as fast as Wednesday 4/19 but I'm playing 4/28 407 puts to give it enough time. Needs to breakdown near term support in the 405-407 range but ultimately it needs to test 400 before making next leg up.
Will re-eval after 400 but likely will be an opportunity to swing long to 420s
Aggressive entry on short is right now while its still in 411s, conservative entry is a break below 409.5. Note this is likely just a pullback and not a major leg down.
Note
It will take until mid next week to reach target of low 400s
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.