Steversteves

SPY: Bearish or Bear Trap?

Steversteves Premium Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Bearish or Bear trap, that is the question... the question that I cannot definitively answer :-).


Please know, my overall bias here is neutral. I am waiting for confirmation one way or the other to position myself.


Safe trades everyone!
Comment:
I forgot to add in the video,
Inversely, from where we are, what would confirm bearishness for me and that we likely won't see really any more upside is if we open and hold below 397 tomorrow and continue to sell. That would be invalidating the current uptrend and I would be more comfortable scaling in short at that time.
Until them, its unfortunately a waiting game to see how this plays out either way.

Safe trades everyone!
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