KeyTrade
Short

Short SPY for a sharp correction (Week of Sep 25)

AMEX:SPY   SPDR S&P 500 ETF TRUST
History repeats. In February, we had a low volume wide up green candle (Anomaly). The second day followed by a high volume small bar gap down red candle. This is a topping pattern.
Now we are in the same position. This past Friday closed as the exact same pattern, while in this wedge RSI is not rising corresponding to price. I will watch for a sharp breakdown of the wedge and potentially go to 2700 area for a big correction.

Keep in mind even though this happens, it is a huge buying opportunity. I am still targeting SPX to reach 3100-3200 by the end of the year.

I already started the short position at SPX500 2935 level and will add shorts when breakdown happens.
Sep 24
Trade closed manually: Bear flag breakdown but stopped mid way. I suspect spx going higher now.
Sep 26
Trade active: reopened, we crashing
Oct 12
Trade closed: target reached
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