tl;dr I am short this week and next week. Expect support at 198.
4-5 large volume selling days in the last 8 days.
The last 2 days were very bearish candles with closes near the lows.
Broke though the 208 support on Friday without much resistance. It will be interesting to see if it is still considered for resistance in the future.
Has broken 10,20,50 dma without a sweat. 100 dma is next, but based on the previous lows, I am not surprised if it doesn't hold.
There I don't see any support until previous lows of 198.
I will hold off entering any long positions until 198, or get a up day on large volume.
I wondering if I should short $SPY if there is a rally in the next few days.
4-5 large volume selling days in the last 8 days.
The last 2 days were very bearish candles with closes near the lows.
Broke though the 208 support on Friday without much resistance. It will be interesting to see if it is still considered for resistance in the future.
Has broken 10,20,50 dma without a sweat. 100 dma is next, but based on the previous lows, I am not surprised if it doesn't hold.
There I don't see any support until previous lows of 198.
I will hold off entering any long positions until 198, or get a up day on large volume.
I wondering if I should short $SPY if there is a rally in the next few days.
