SPY does a rising wedge suggest a reversal? SHORT

20 déc. 2023

SPY on a 30 minute chart shows a rising wedge over the past week. Price is now under a nearly

flat upper trendline of resistance while the support trendline is rising. The dual TF RSI

indicator shows strength about 70 while the zero lag MACD shows a K /D line cross.

Because of this I believe, SPY may retrace to 468 or the level of the Fib 0.5. Since SPY is a high

volume high liquidity slow spread instrument I see a buying a put option or s short swing trade

short on the shares as strong consideration for the next trading day if the breakdown is

confirmed.

21 déc. 2023

Transaction en cours

SPY rolled over and dropped nearly to the target retracement. Looking for more out

of the puts expiring on December and will likely close those but keep the Demeber

29th ( still out of the money) going over the upcoming holiday weekend.

23 avr.

Transaction en cours

See also updated idea linked here

20 juil.

Transaction en cours

SPY correcting and likely to fall further