Ended up taking a small loss on SPY calls in the morning as I was quick to cut the loss as I realized tons of selling pressure as well as the break of support trendline in the morning of todays open. If anybody took puts at the open as I mentioned I would do, you should be sitting on some nice profit right now, I would lock that profit here as SPY is at another inflection point. This is now an hourly chart and a clear doji candle has formed currently meaning we are looking at a good fight between bears and bulls. Break and candle close below yellow box is bearish or break above blue line known as 5ma and candle close above is bullish.
Comment:
Support trend line broke premarket, looking like a bloody rapid sell off type of morning, stay cautious and conserve cash or play small
