SPY short momentum has just taken out previous day's low. When seen on the daily, there is expectation that even lower lows will be set. However, for those that are looking to short it would be better to wait for a bounce back 277 for an entry. For those that are more aggressive. A daily red 3 has been set that is below a red 2. This signifies entry opportunity on the daily.
Trading idea:
Enter SPY short @ 277
Enter SPY short [if it doesn't bounce at all above previous close] at discretion of the trader at any point of session tomorrow.