My trading plan does not allow me to buy into new highs.
However it's not safe or practical to aimlessly short the high.
A sell stop order is how I safely trade the highs.
I am Bearish to Neutral for now. Waiting for significant signs of bullish support.
Seasonally, the market is Bearish/ corrects on average going into February.
SPY Not much explanation needed if you saw my last SPY post (attached). Welp, i'm thinking the area marked on the chart is the next test area between tomorrow and next Friday, depending on how it gets on up there. Not saying I'm going short there, just going to reevaluate if we reach that level, which was former uptrend support line lost, should act as resistance...
