Is SPY going to fall out of its ascending channel? We might see a dead cat bounce today, but factors remain uncertain about the Delta variant and how the government will respond. However, we are at the beginning of the earnings season which brings risk against going short SPY.
Los Angeles has started its mask mandate again this past weekend. 40% are unvaccinated and if they're unvaccinated now with a vaccine surplus, they aren't likely to be vaccinated soon.
Will keep an eye out for how SPY moves for the next few days before entering a position. I will short again if SPY breaks down past 420 and makes a small bounce back up and if global stocks are down as well.
Los Angeles has started its mask mandate again this past weekend. 40% are unvaccinated and if they're unvaccinated now with a vaccine surplus, they aren't likely to be vaccinated soon.
Will keep an eye out for how SPY moves for the next few days before entering a position. I will short again if SPY breaks down past 420 and makes a small bounce back up and if global stocks are down as well.