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Daniel Urdaneta Daniel Urdaneta SPY, D, Short ,
SPY: Time for a timid short - Triangle formation still in play
164 1 3
SPY, D Short
Time for a timid short - Triangle formation still in play

After riding the monday-tuesday rip higher (Kudos for those who BTFD @198!), now I opened a short at today's last minutes of trading. Stop: 206.50 (in case we are breaking out); limit: a retest of the 200 psychological Pivot Point. The rationale behind this trade is mostly technical: the triangle pattern forming in SPY, suggesting indecision regarding the future ...

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