Short SPY of the Blue Trend line if Monthly Doji Materializes
Updated
We've seen SPY reject the blue line three prior times on the monthly chart. Though the reject already happened on the weekly chart in early November. But, now, if S{Y closes below 208.50 on Monday, then the monthly candle is a doji. I'm more than willing to short it to hell (also known as 199 if 206 breaks).
Note I'm not telling you what to do, but I intend to buy 206 or 206.5 December monthly puts on Monday or Tuesday next week. Again, that's only me saying what I intend to do.
If the Doji materializes,its a short. Mind you, it may test the top of the line first, which is approximately 211.30. No matter what, the market should fall from these levels before EoY
Note I'm not telling you what to do, but I intend to buy 206 or 206.5 December monthly puts on Monday or Tuesday next week. Again, that's only me saying what I intend to do.
If the Doji materializes,its a short. Mind you, it may test the top of the line first, which is approximately 211.30. No matter what, the market should fall from these levels before EoY
Note
Should say "off" trend line in the idea title.Trade closed: target reached
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