bearish trade set up for the spy that was under heavy pressure into the close last friday
breaking below the 200 day moving average and breaking below a local support
also showing bearish divergence on the MACD on the daily.
just an idea here. shorting the SPY has not worked out for most but with the recent turmoil in the markets sentiment could change
if we have a gap up on monday morning this idea will be quickly invalidated
what do you guys think? green day or red day for the SPY on monday??
HAPPY TRADING
breaking below the 200 day moving average and breaking below a local support
also showing bearish divergence on the MACD on the daily.
just an idea here. shorting the SPY has not worked out for most but with the recent turmoil in the markets sentiment could change
if we have a gap up on monday morning this idea will be quickly invalidated
what do you guys think? green day or red day for the SPY on monday??
HAPPY TRADING