SPY does a rising wedge suggest a reversal? SHORT

20 дек. 2023 г.

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 дек. 2023 г.

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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 апр.

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See also updated idea linked here

20 июл.

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SPY correcting and likely to fall further