trading412
Short

Short SPY - channel breakdown

AMEX:SPY   SPDR S&P 500 ETF TRUST
Crashed through the 100 day MA and the channel support that we've been in since the Feb vol sell off. Now Looking toward the the triple support at $258 - the feb lows, 200 day MA, and the lower end of the new potential channel. Breakdown of 258 would indicate that all of the people who are saying this debt bubble will burst causing the a worse crash than the 2008 financial crisis could in fact be correct. The bears are always eventually right. Even though most people were not projecting the next recession and crisis until 1h19, it could come early. The Fed raising interest rates while carrying out quantitative tightening, this isn't slowly letting the air out of our massive debt bubble, they're taking a machete to the bubble. Libor-ois spread spiking showing liquidity dry up quickly. Blowing through 258 next week would show that this all came together for a terrible result.
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