Update.
SPY has moved higher but this trade is still in play. Recommended course of action would be to sell here but be prepared to buy back if we cross both the yellow resistance line AND orange line.
Trend meter indicates possible further bullish action but all other indicators suggest a drop from here.
Also possible, we could grind out along the yellow line without breaking it.
Moving up or down will likely hang on a "positive" US/China trade deal announcement before month-end or even week's end.
SPY has moved higher but this trade is still in play. Recommended course of action would be to sell here but be prepared to buy back if we cross both the yellow resistance line AND orange line.
Trend meter indicates possible further bullish action but all other indicators suggest a drop from here.
Also possible, we could grind out along the yellow line without breaking it.
Moving up or down will likely hang on a "positive" US/China trade deal announcement before month-end or even week's end.
