SPY closed out 2016 sitting right below support 2... Ideally Id like to see short sellers cover to push SPY to top at 228 (dark blue arrow up) and fail because of stronger bearish volume and weak stoch(dark blue arrow down) ... After the failed retest at top and short squeezing.. enter your short here with small shares; if it is able to drop below s1 and s2 add but set alerts because it may not be able to drop below 50 and 100 day EMA.. if able to break both, continue to add to short but keep alerts on at 212 because possible reversal at that point..
Let me know any questions.
Constructive Crticism is always welcome.
Let me know any questions.
Constructive Crticism is always welcome.
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.