SPY Ascending Channel
I'll consider SPY bullish until it makes a lower low below 579, but a a channel break could lead to a quick flush. You could enter long on the trendline if it tests again and holds, or wait for a break below and retest for a short. Final downside target would be at 575 which was a previous ATH that has flipped to support and held on the first test already.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
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