I have strong belief that it will be a good time to short the market in March. Last month $SPY went up to grab liquidity(short stops) from the recent high of December at $410 with a lack of displacement.
SPY
also came back to test a mitigation block that was formed at the beginning of the bear run in Feb. 2022.
If it closes the month of March below the next recent high, which would be 431.73, I will be looking to short with a target around $348
SPY
also came back to test a mitigation block that was formed at the beginning of the bear run in Feb. 2022. If it closes the month of March below the next recent high, which would be 431.73, I will be looking to short with a target around $348
Comment:
The beginning of March gave us a good push down and we have slightly recovered, but not enough to debunk the stop signal. Therefore, my theory is to short with a stop loss of $418.31 and a target still around $348.11
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